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.

Public Holiday     Saidu Isa     Rapheal Ashaolu     Association Of Kwara State Online Media Practitioners     Ilorin West     Toyosi Thomas     Ifelodun     Aliyu Kora-Sabi     Millennium Development Goals     Doyin Awoyale     Tunde Saad     Share     Ebun-Olu Adegboruwa     First Lady     Ahmed Bolaji Nagode     Federal College Of Education (Special), Afon     Nigeria Foundation For Artificial Intelligence     Oni Adebayo     Gbemisola Saraki     Mope Dasuki Belgore     Lithium     Olam Food Ingredients     M.Y. Abdulrahaman     Gabriel Fashanu     Raimi Iyanda     Tunji Moronfoye     Oluwarotimi Boluwatife Adenike     KWASEIC     Bahago     Press Release     Kwara State Coalition Of Business And Professional Associations     Saka Saadu     Rex Olawoye     Federal Polytechnic Offa     Sulaiman Gado     Lithium Deposit     Maigida Soludero Transit     Gambari     Raliat Islamic Foundation     Sabo-Oke     Temi Kolawole     Afonja     Salihu S. Yaru     Okeose Christian Cementary     Abdulrauf Aliyu     Adam Abdullahi Al-Ilory     Abdulmajeed Abdullahi     Amusement Park     Atiku     Kwara State Branch Of The National Library     Mohammed Jimoh Faworaja     Valsolar-Kwara Company Limited     Dorcas Afeniforo     Opolo Global Innovation Limited     Samari     Saadu Gbogbo Iwe     Mohammed Saidu     Kazeem Adekanye     Rachael Obisesan     Raheem Adaramaja     Alfa Yahaya Road     Logun     Senate President     Aliyu Muhammad Saifudeen     Funmilayo Oniwa     Yahaya Dumoye     Sidikat Akaje     TIC     Omoniyi     Sabitiyu Grillo     Ilesha-Baruba     Muritala Olarewaju     Gbemisola Oguntimehin     Isiaq Khadeejah     Ahmed Mohammed Rifun     Otunba Taiwo Joseph     Abdulrasheed Na\'Allah    

Cloud Tag: What's trending

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

Oloye     Ajakaye     Bluenile Associates     Alao Ayotunde     IHS     Yekeen Alabi     Ilorin Muslim Community     Offa Metropolitan Club     Yusuf Ali     Musa Alhassan Buge     Iyaloja-General     Islamic Development Bank     Ejidongari     Ajibola Saliu Ajia     Tunji Ajanaku     Yashikira     KWSIEC     Saka Balikis Kehinde     Babatunde Ajeigbe     GAMA     Saadu Yusuf     Lai Mohammed     Durosinlohun Atiku     NULGE     Omupo     YAKOOYO     SSA Youth     Amuda Aluko     Press Release     Saidu Kawu     Atiku Abubakar     Adanla-Irese     Majlis For Sadaqah, Zakat And Waqf     Arandun     Temitope Ogunbanke     Olabanji Orilonishe     Kwara State Branch Of The National Library     KWACOBPA     Revenue Court     Ilorin Emirate Staff Association     Kwara State Television     Abdulahi Abubakar Bata     Ophthalmological Society Of Nigeria     Post Utme     Onilorin Of Ilorin     Sarah Jubril     CCEPE     NIPOGA     Adewuyi Funmilayo     Sunset Workers     Freshvine Nigeria Limited     Mohammed Haruna     Isiaka Danmeromu     IDPU     Dairo Kunle Paul     Garba Idris Ajia     Yetunde Balogun     Ilota     AbdulGafar Tosho     Oladipo Akanmu Tolani     Umaru Saro     Isiaka Oniwa     Jaigbade Alao     Olokoba     Ayo Adeyemi     Rabiu Kwankwaso     Olukotun Of Ikotun     Babatunde Idiagbon     Unilorin     Yakubu Mohammed Abdullahi     Abdulfatah Ahmed     Abdullahi AbdulMajeed     Oba-Solagberu     Hamid Bobboyi     Ilorin     NAWOJ     HYPPADEC