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.

Gobir     Ajayi Okasanmi     Abdullahi Samari     Oke-Ogun     AGM Professional Services     Oke-Oyi     Amoyo     Ganmo     Kwara State Health Insurance Agency     Laduba     Kale Ayo     Musa Yeketi     Tsaragi-Share     Computer Based Test     Adebayo Salami     Adamu Jemilat-Baki     Joseph Alex Offorjama     Gbugbu     Labour Party     HAMFAT Clinic And Maternity     Wasiu Odewale     Igbomina     Osi     Moshood Bakare     Diagnostic Centre     Dumagi     Students Union Government     Abdulquowiyu Olododo     Oke-Odo     Chief Imam Of Omu-Aran     IESA     Ilorin East     Coronavirus     Aliyu Salihu     Issa Memunat Moyosore     Budo Egba     Islamic Development Bank     Dan-Kazeem     Alabere     AIT Ilorin     Reuben Paraje     Ayobola Ipinlaiye     Shaaba Lafiagi     Abdulrauf Aliyu     Okanlawon Taiwo     Timothy Olatunde Fadipe     Jimoh Akani     Abdulkadir Akanbi-Oke     Colleges Of Education Academic Staff Union     Sardauna     Towobola Abdulrahman Toyin     Akanji     Sheriff Shagaya     Special Agro-Industrial Hub     Olaiya Zuberu     Crystal Corner Shops     Ahmed Bayero     Abdulrahman Onikijipa     Volunteers Of Ilorin Community And The Emirate     Issa Manzuma     Ibrahim Labaika     Quarry Royal Valley     Onilu     Ayinke Saka     Abdulrazaq Sanni     Jamiu Oyawoye     KFA     Arik     Alfa Yahaya Road     Emir Of Shonga     KWSUED     Ibrahim Abdulkadir Abikan     Mustapha Olanipekun     Offa Poly     Balogun Fulani     Medview Airlines     LAK Jimoh    

Cloud Tag: What's trending

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

Neo Mundo Ltd     International Public Sector Accounting Standards     Olam Food Ingredients     Babatunde Ishola Babaita     Emir Of Kano     Al-Hikmah Radio     JUSUN     Allocation     Kamaldeen Gambari     Ilorin.Info     Sunday Otokiti     Jawondo     QuickWin     Salihu Ajibola Ajia     Amada Jidda     Ladi Hassan     Sambo Murtala     Shettima Of Ilorin     Joana Nnazua Kolo     Eleja     Mamman Saba Jibril     Bahago     Saraki     Olusegun Adeniyi     Isapa     Earlyon Technologies     Yomi Adeboye     Omotoso     Ophthalmological Society Of Nigeria     Ethical College     Mohammed Jimoh Faworaja     Abdulwaheed Musa     Ijakadi     Samuel Adaramola     Abiodun Oyedepo     Abdulkadir Bolakale Sakariyah     Yunus Lawal     Alfa Modibbo Belgore     Aminu Adisa Logun     Nigerian Correctional Service     Salman Jawondo     Abdulsalam A. Yusuf     Christopher Tunji Ayeni     Sarkin Malamai     Olabode George Towoju     Gbadeyan Gbadura Yomi     Oke-Ode     S.O. Opowoye     Umar Saro     BECE     Kayode Laro     Olanrewju Okanlawon Musa     Hamidu Olowo     Adijat Adebiyi     Bello Oyebanji     Amusa Bello     KWTV     Amoyo     Bello Bature     Balogun-Ojomu     Ahman Patigi     Kwara State Printing And Publishing Corporation     Onikijipa     Sadiq Buhari     Mutawalle     Labour Party     Baba Idris     Kayode Ibrahim     Elerinjare     Tanke Flyover Bridge     Illyasu Abdullahi     First Lady     Sherif Sagaya     Doyin Agbamu     Akanji     Abiodun Abdulkareem     Otoge