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.

Wole Oke     Adama Isa     Katibi Ibraheem Adeola     Belgore     Okin Malt     Abiodun Musa Aibinu     Balikis Jawondo     Abdulrahman Abdulrazaq     Amuda Musbau     Ayo Opadokun     Mohammed Danjuma     Standard Organization Of Nigeria     Suwa-Arabs     Olumide Daniel Ibitoye     Vishvas KOZ Tractors     Raliat AbdulRazaq     NURTW     Yusuf Ali     CUTI     Folorunsho Alao     Salau Kabiru Abdullahi     Ishak Mohammed Sabi     Sulu Babaita Isiaka     Abdulquowiyu Olododo     V.O. Abioye     Temi Kolawole     Ahmad Olayiwola Kamaldeen     Kwara State Television     Sodiya     Ajibola Ademola Julius     Alumni Association Of The Federal Polytechnic Offa     IPSAS     Mufti Of Ilorin     Nigeria Foundation For Artificial Intelligence     Abdulraheem Olesin     Share-Tsaragi     Abdulrahman Abdulrasaq     Abdulraheem Yusuf     Council Of The Wise     Zaratu Umar     Tinubu     Lawal Arinola Kudirat     Aminat Omodara     Zulu Gambari     Sanitation Exercise     Ilofa     Iyaloja-General     Ayodele Kuburat Olaosebikan     KWSUED     Igbomina     Ekiti     James Ayeni     Al-Hikmah Radio     Ahman Patigi     Leke Ogungbe     Raliat Elelu-Habeeb     Saka Abimbola Isau     Sobi     Ayobami Akanbi     Sadiq Umar     KWACOBPA     NFAI     Oba Mogaji Abdulkadir     International Vocational Centre     JAAC     Anilelerin     Mohammed Yahaya Barki     Millennium Development Goals     Iliasu     Mumeen Lah     Ijakadi     TESCOM     COVID     Afusat Nike Ibrahim     Ilorin Durbar     NITDA     Amasa    

Cloud Tag: What's trending

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

Shonga Farm Project     Mufutau Gbadamosi Esuwoye     Ibrahim Bio     Bolaji Abdullahi     Ramat Oganija     Muhammed Abdullahi     Yomi Adeboye     Mike Omotosho     Oyawoye     Babaloja-General     Sam Okaula     Amos Justus Sayo     Isiaka Saka Opobiyi     IYA ALFA NLA     KWASEIC     Adam Abdullahi Al-Ilory     Olatunji Moronfoye     Ejidongari     Khadijat Ayoola Yusuf     Kisra     Yakub Ali-Agan     Kolade Solagberu     Benin Republic     Gambari     Kuliyan Geri     Face Masks     David Oyerinola Adedunmoye     Is\'haq Modibbo Kawu     Aliyu Muhammed     Jumoke Monsura Gafar     Alabere     Abiodun Musa Aibinu     Solomon Edoja     Isapa     Agboola Abdulraheem     John Olajide Adedipe     Abdulwahab Oba     Wahab Issa     2017 Budget     Onikijipa     Hamidat Sulyman-Yusuf     Ekweremadu     Kola Shittu     Sulyman Abdulkareem     Mumini Ishola Hanafi     Javed Khan     Bukola Saraki     ANCOPPS     Abdulkadri Ahmad Alaiye     CBT     Oyedun Juliana Funke     Gbadeyan Gbadura Yomi     Laboratory-to-Product     Kwara Hotel     Abdulfatai Salman Baakini     Danhawa     Bashiru Makama     Oro Grammar School     Rafiu Olasile     Na\'Allah     Sobi Hill     Kwara Volleyball Association     Kishira     Hassan Abdulazeez Elewu     Salihu Ajia     Offa     Abdulwasiu Bolaji Adeyi     Wale Oladepo     Ebun-Olu Adegboruwa     Muslim Cementary     Laolu Saraki     Agboola Babatunde     Prince Mahe Abdulkadir     Bashir Adigun     Royal FM     Government Girls’ Day Secondary School Pakata     Oke-Ero