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.

Olokoba     Yahaya Oloriegbe     Fatai Adeniyi Garba     Bayer Nigeria Limited     IQRA College     Osinbajo     Funke Adedoyin     Aremu Odolaye     The Herald     Bolakale Saka     Ibrahim Jawondo     Sanitation Exercise     Kayode Ibrahim     Adamu Attah     Bilikis Oladimeji     Local Government Pension Board     Omoniyi M. Ayinla     First Lady     Cornelius Adebayo     Ogbondoroko     Salmon Babatunde Salmon     Abdullahi Adisa Akodudu     Ilorin South     Saadatu Modibbo-Kawu     Sardauna Of Ilorin     Shade Omoniyi     Gamji Members Association     NIPR     Valsolar     Gbugbu International Market     Salihu Ajibola Ajia     Neo Mundo Ltd     Adewuyi Funmilayo     Sabi     UNILORIN Alumni Association     Kwara University Of Education     Shehu Jimoh     Veterinary Teaching Hospital     Ejidongari     11th Galadima     Jare Olatundun     Idofin     Tunde Kazeem     TESCOM     Jimoh Saadudeen Muhammed     Aishat Sulu-Gambari     Jimoh Olusola Imam     Omotosho     Toun Okewale-Sonaiya     ASKOMP     Ibrahim Akaje     Ayobami Akanbi     Saka Saadu     Ola Falade     Sulaiman Gado     Oko-Erin     Jimba Babatunde     Olomu     Olumide Daniel Ibitoye     Buari Edun     Awoye     VADA     Umar Sanda Yusuf     Federal Road Maintenance Agency     Prince Sunday Fagbemi     Oja-Oba     Illyasu Abdullahi     Maigida Soludero Transit     Adesina Simon Sodiya     BECE     Adamu Ibrahim Sabi     Isiaka Rafiu Mope     Amuda Musbau     Akande Idowu Ayoola Muhammed     Mohammed Abdulahi     Michael Nzwekwe     JUSUN    

Cloud Tag: What's trending

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

Ilorin Talaka Parapo (ITP)     Olabode Towoju     Ilorin Airport     Abdulkadir Remi Hawawu     Olabimpe Olani     AbdulQowiy Olododo     Salihu S. Yaru     Sai Kayi     Shururat Olatinwo     Abdulkadir Bolakale Sakariyah     Jamiu Oyawoye     Balogun-Ojomu     Olomu Of Omu-Aran     Alikinla     Saka Asiat Ayinke     Okin Malt     Ramadhan     Hameed Oladipupo Ali     Nigeria Governors\' Forum     Lateef Alagbonsi     Abdulrazaq Aiyelabegan     Aishatu Ahmed Gobir     Kayode Ibrahim     Toyin Sanusi     Yusuf Arowosaye     Isiaka Danmeromu     Mike Omotosho     Busari Toyin Isiaka     Onilorin Of Ilorin     Abdulbaqi Jimoh     Mamatu Abdullahi     Ayodele Shittu     Otoge     Sheu Ndanusa Usman     Abdulraheem Olesin     Katibi Ibraheem Adeola     Arca Santa     Code Of Conduct     Gobirawa     Gbadeyan Gbadura Yomi     Hausa     Ilorin International Airport     Yusuf Amuda Aluko     Arandun     Chief Imam Of Omu-Aran     Saadatu Modibbo-Kawu     Idris Amosa Saidu     Malete     Lucky Omoluwa     VADA     Salihu Jibril Garbi     Salman Suleiman     Baba Issa Awoye     Oluronke Adeyemi     Gobir     Onikijipa     Theophilus Oyebiyi     Babatunde Ishola Babaita     Habeeb Saidu     Hijab     Imam Gambari     Tunde Yusuf     Colleges Of Education Academic Staff Union     Adolescent Girls Initiative For Learning And Empowerment     IYA YUSUF     Adesina Simon Sodiya     Alanamu     KSIRS     Femi Gbajabiamila     Kehinde Baale     Mahfouz Adedimeji     Gurei     Doyin Group     Flights To Ilorin     Agboola Abdulraheem     Olaiya Lawal     Principal Private Secretary