Group Urges Federal Government to Collaborate with Dangote Group for Petroleum Sales in Naira

Date: 2024-09-09

News report from The Punch indicates that, a pro-democracy group, Kwara Must Change, has urged the Federal Government to collaborate with the Dangote Group to sell its products, particularly petroleum, to African countries in naira.

In a statement released on Sunday, Abdulrazaq Hamzat, the Convener of Kwara Must Change, stressed the importance of leveraging the Dangote refinery to benefit the region and boost the prominence of the Nigerian currency across the African continent.

Hamzat explained that this proposal aligns with a broader vision to promote the use of the naira in regional trade, potentially strengthening Nigeria's economic influence in Africa.

He said, “This landmark achievement of Dangote should not only serve Nigeria's national interest but also its regional interest. Only countries in Europe, Asia, and America should purchase the products in dollars.

“By doing this, we could potentially strengthen the naira's value and influence in regional trade, reducing our reliance on the U.S. dollar.”

He further argued, “Rather than chase foreign exchange, particularly the U.S. dollar, we should focus on making others seek the naira. This would have a much broader impact on our economy.”

Hamzat asserted that if the Federal Government implements this strategy, it could create a more favourable business environment for Nigerian industries, promote regional economic integration, and reduce dependence on foreign currencies.

“This move could help stabilize the naira and encourage other African nations to adopt similar strategies for regional trade,” he added.

Recalling the recent policy, Hamzat noted, “It should be remembered that the FG has approved the purchase of crude oil in naira for the Dangote refinery and others in Nigeria. This means the refinery's obligations in foreign currency will be minimized, making this initiative achievable.”

Kwara Must Change urged both the government and the Dangote Group to consider this proposal, stating, “We believe this aligns with Nigeria's overall interest.”

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

David Oyerinola Adedunmoye     A.E. Afolabi     Roseline Oni Aremu     Bolakale Saka     Oba Abdulkadir La\'aro     Inside Kwara     Yomi Ogunsola     Adaramaja     Katibi Ibraheem Adeola     Mohammed Jimoh Faworaja     Col. Ibrahim Taiwo     Presidential Election     Eleja     Rafiu Olasile     Aliyu Kora Sabi     Aliyu Olatunji Ajanaku     Ojuekun Sarumi     Idowu Laro     Abdulrahman Abdulrazak     Daud Adeshola     Principal Private Secretary     Is\'haq Modibbo Kawu     Idris Garuba     Royal FM     Olota Of Odo-Owa     Aminat Ahmed     Ahmad Uthman     Kwara State Fire Service     Isiaka Alikinla     Kayode Issa     Ado Bayero     Ariyo     All Peoples Party     LAK Jimoh     Post Utme     Sobi Specialist Hospital     Oloye     Kwara 2019     Busari Toyin Isiaka     Shade Omoniyi     Kwara Polytechnic     Unilorin FM     Ilorin Anchor Men And Women     Kwara Politics     GRA     Elerin Of Erin-Ile     Aliyu Kora-Sabi     CELF     Abraysports FC     Baakini     Adegoke Bamidele     Oba-Solagberu     Idris Amosa Oladipo Saidu     Firdaos Amasa     Millennium Development Goals     Imodoye Writer’s Enclave     Memunat Monsuma     Oro Grammar School Old Students Association     Abdullahi G. Mohammad     Bello John Olanrewaju     Photo News     Toun Okewale-Sonaiya     Nupe     International Vocational Centre     Budo-Egba     Kwara Poly     Offa Metropolitan Club     Societe Generale Bank Of Nigeria     Saliu Shola Taofeek     KWASIEC     Elections     A.O. Belgore     Sadiq Umar     Ilorin Emirate Stakeholders Forum     Yekeen Alabi     Shuaib Olarongbe     EFCC    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Gambari     Isiaka Oniwa     Abdulsalam Firdaous Amosa     Tuesday Assayomo     Ilorin     Abubakar Olusola Saraki     Abdulmumini AbdulRazaq     Olushola Saraki     Coalition Of Kwara North Groups     A.G.F Abdulrasaq     Sidikat Alaya     Kishira     Yomi Ogunsola     Muslimah Entrepreneurship Forum     Lola Olabayo     Yusuf Amuda Gobir     Abiodun Oyedepo     David Oyerinola Adedunmoye     CELF     Mumeen Lah     Saad Omo\'ya     Azeez Salawu     Just Event Online     Bankole Omisore     Odolaye Aremu     Eleja Taiwo Banu     Kayode Alabi     Lola Ashiru     Bola Magaji     Funmilayo Braithwaite     Yunus Lawal     Bello Abubakar     Modibo Kawu     Abdulrahman Abdulrasaq     KWSUED     Ezekiel Yissa Benjamin     Olohungbebe     Ramadan     Saliu Oluwole     Ilorin South     Hakeem Idris     Wahab Olasupo Egbewole     Local Government     Durbar Festival     Gbugbu     Durbar     Baakini     Kwara-SAPZ Project     IYA ALFA NLA     Jalala     Ilorin Water Reticulation     Ilorin Airport     Umar Danladi Shero     Ilorin Curfew     Olayinka Are     20 Billion Bond     Abdullateef Abdussalam     Muritala Awodun     Admiralty Villa     Adisa Logun     Ibrahim Kayode Adeyemi     Adegoke Bamidele     John Mayokun Dada     Mogaji Aare     IYA YUSUF     Adamu Jemilat-Baki     Bashirat Bola Bello     Omoniyi     Ibrahim Mashood     Allocation     Garba Ado Sanni     Wahab Issa     Asa     Muhammed Mahe Abdulkadir     Kayode Ishola     Harrison Osauwagboe     Osinbajo