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.

Basic Education Certificate Examination     Ahmad Lawan     Suraj Tunji Oyewale     John Kehinde Salako     Patience Jonathan     KWATMA     Segun Olawoyin     Savannah Centre For Diplomacy, Democracy And Development     S.O. Opowoye     Sherif Shagaya     AbdulGafar Tosho     Dapo Teni Nig Enterprise     Elections     Is\'haq Modibbo Kawu     Ishak Mohammed Sabi     Veterinary Teaching Hospital     Abdulquawiy Olododo     Quran     Abdulrahman Abdulrasak     Ayodele Kuburat Olaosebikan     Abdulrosheed Okiki     Offa Grammer School     Bello Abubakar     John Dara     ITP     Tsaragi     Otuka     Kwara State Coalition Of Business And Professional Associations     Mutawali     Gurei     Baba Isale     April 11     Muhammed Danjuma     March 18     Yoonus Kola Olatinwo     Facebook     Pakata     Dan Iya Of Ilorin     Christopher Ayeni     Tunji Oyawoye     Muyideen Ajani Bello     Valsolar Consortium     Musibau Akanji     Trader Moni     Simeon Ajibola     Kwara State Pension Board     Agor Market     Sidikat Akaje     Saliu Shola Taofeek     Col. Adedipe     Gbenga Awoyale     Lawal Jimoh     Madawaki Of Ilorin     Lawan     Saliu Alamoyo     Aso Ofi     Raliat Islamic Foundation     Twitter     Ganmo     Curfew     Mustapha Olanipekun     Hajj     Ndama Al-hassan     Idofin     Ifelodun     Chief Imam Of Lafiagi     Adeleke Ogungbe     Abdulrazaq Adebayo     Abdulkadir Akanbi-Oke     Odo-Owa     Abdulfatai Salman Baakini     Kwara Coalition Of Business And Professional Associations     Nnazua     Academic Staff Union Of Universities     Ndakene     Baakini     Kanu Agabi    

Cloud Tag: What's trending

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

Abiodun Abdulkareem     Ileloke     Omotosho     Segun Olawoyin     Agor     Al-Hikmah Radio     NaAllah     Ibrahim Mohammed     Aliyu U. Tilde     Adama Isa     Tosin Saraki     Fareedah Dankaka     Sheikh Ariyibi     Abdulmalik Bashir Mopelola Risikatullahi     Henry Olaosebikan     UITH     Gamji Members Association     Sa\'adu Salau     AbdulHakeem Ajibola Akanbi     Yakubu Gobir     Farouk Salim     Dan Iya     Sidikat Akaje     Olupako Of Share     Dauda Adeniran Adeshola     Alimi     SDP     MalHub     David Oyerinola Adedunmoye     Dan-Kazeem     Haliru Dantoro     Ahmad Fatima Bisola     ARMTI     Abdul-Rahoof Bello     Abdulraheem Olesin     Abdullahi Biffo     Lotus Bank     Odo-Owa     Yusuf Olaolu Ali     Oko     VADA     Rapheal Ashaolu     Senior Staff Union Of Colleges Of Education     Yakub Ali-Agan     All Confederation Of Principals Of Secondary Schools     Tinubu     Shehu Raheem Adaramaja     Noah Yusuf     Doyin Agbamu     Peter Amogbonjaye     Shehu Alimi Foundation For Peace And Development     Ahmed Ayinla Jimoh     A.G.F Abdulrasaq     Just Law Forum     Curfew     Radio SBS     Playing Host     Iyeru Grammar School     Pategi     Turaki     Abdulkarim Adisa     Mohammed Yisa     Kabir Shagaya     Ganmo     Public Holiday     Rachael Obisesan     Yusuf AbdulRasheed     Haruna Tambiri Mohammed     Sodiya     Owode Market     Budo-Egba     Unilorin     Mopelola Abdulmaliq-Bashir     Saka Abimbola Isau     SGBN     Prince Bola Ajibola     Balogin Alanamu