By Barth Ikiebe

The technical Sub-Committee on the Crude and Refined Product Sales in local currency says it has recorded notable progress since its last engagement.

This was conveyed at a follow-on meeting of the Technical Sub-Committee on Friday, under the Chairmanship of the Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The session, which reviewed implementation milestones was attended by the Executive Chairman of the Federal Inland Revenue Service and Chairman of the Technical Sub-Committee, Mr. Zacch Adedeji; the Special Adviser to the President on Energy, Ms. Olu Verheijen; as well as senior representatives of the Nigerian National Petroleum Company Limited (NNPCL), local refining operators, and key regulatory institutions including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Ports Authority (NPA).

Stakeholders reaffirmed their shared commitment to the effective and seamless execution of the policy, which remains a critical component of President Bola Tinubu’s broader strategy to strengthen the Naira, enhance energy security, and promote local value addition within the sector.

The Finance Ministry Spokesman, Mohammed Manga, said the Coordinating Minister of the Economy commended the continued collaboration across agencies and partners and hope to provide further updates in due course.

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