Reps pledge transparency in naira-for-crude policy
The Speaker of the House of Representatives, Tajudeen Abbas, has reiterated the parliament's dedication to ensuring the transparent and efficient execution of the Federal Government's naira-for-crude oil initiative.This program aims to stabilize the naira, improve energy security, and increase local value addition within the petroleum industry while also supporting broader economic reforms aimed at reducing inflation, fostering domestic production, and enhancing Nigeria’s trade balance.
Abbas, who was represented by House Minority Leader, Kingsley Chinda, during the inauguration of the Ad-hoc Committee on Implementation and Oversight of the policy in Abuja on Wednesday, referred to this action as a crucial step toward enhancing transparency and effectiveness in one of the nation's significant energy reforms.
He stated, “The committee's role is essential to ensure that the goals of the policy are achieved and that any execution shortcomings are swiftly resolved. The House anticipates nothing short of a thorough, unbiased, and well-documented process that contributes to our economic stability.”
He further emphasized that the policy has wider implications for foreign exchange stability, revenue generation, and long-term
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