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.

ASMAU PLAZA     Oke-Oyi     Mohammed Ibrahim     Salman Suleiman     Afonja Descendants Union     Ella Supreme Tissue Paper     Senior Staff Union Of Colleges Of Education     Salary     Niyi Ogundiran     Sheu Ndanusa Usman     Ayodele Kuburat Olaosebikan     COEASU     Dan Iya     Mopelola Abdulmaliq-Bashir     Olupako Of Share     Geri-Alimi Split Diamond Interchange     Abdulrazaq Akorede     Victor Gbenga Yusuf     Nigeria Foundation For Artificial Intelligence     Sobi FM     Toun Okewale-Sonaiya     Adamu Atta     Metro Park     Jare Olatundun     Saka Aleshinloye     Isiaka Danmeromu     Nigeria Customs Service     Young Progressives Party     Elewu     Elections     Kwara Liberation Group     Gbemisola Oguntimehin     Saba Jibril     PAACO-PCL Consortium     George Funsho Adebayo     ANCOPPS     Matthew Okedare     Olabimpe Olani     Federal College Of Education (Special), Afon     Donatus Ejidike     Facemasks     AbdulGafar Tosho     Abubakar Atiku     Ajakaye     Sarafadeen Kayode Akorede     Quareeb     Abdulrazaq Aiyelabegan     Mansur Alfanla     Aminat Omodara     Marafan Shonga     Akanbi-Oke     M.Y. Abdulrahaman     UTME     Students Union Government     Ibraheem Adeola Katibi     Taofik Mustapha     Aremu Odolaye     Iyabo Adisa Ibiyeye     Muhammed Abdullahi     Okedare     Baaziki Sulaiman     Abdulfatah Ahmed     Oba Mogaji Abdulkadir     Abdulmumin Yinka Ajia     Segun Ogunsola     Riskat Opakunle     KSIRS     Dan Masanin     Road Transport Employers Association Of Nigeria     Abdulwahab Olarewaju Issa     Shuaibu Yaman Abdullahi     Abdulsalam A. Yusuf     Sabi     Olayinka Are     Iyabo Dupe Adekeye     Yusuf Lanre Badmas     Ilorin Innovation Hub    

Cloud Tag: What's trending

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

Government High School (GHS), Adeta     Alapado     Toyosi Thomas     Ibrahim Sulu Gambari     Popo-Igbonna     Elerin Of Adanla Irese     Opolo Global Innovation Limited     Mustapha AbdulGaniyu     Pius Abioje     Raji AbdulRasaq     Ibrahim Taiwo Road     Special Adviser On Digital Innovation     Shoprite     Yoruba     Yaman     Olabode George Towoju     United Nigeria Congress Party     Isiaka AbdulRazaq     Jebba     Balogun Fulani     Offorjama     Issa Oloruntogun     Abdulahi Abubakar Bata     Tricycle Owners Association Of Nigeria     Isiaka Rafiu Mope     Oko Erin     Ibrahim Abiodun     Mohammed Lawal Bagega     Moremi High School     Femi Agbaje     Yakub Lai Gobir     Olatinwo     Kwara Pdp     Henry Olaosebikan     Aliyu Adebayo     Mashood Dauda     March 18     Computer Based Test     Crystal Corner Shops     Ayinde Oki     Ramadhan     Mubarak Oladosu     Ambassador Kayode Laro     Kwara Primary Health Care Development Agency     UNILORIN Alumni     Ibrahim Akaje     Saadu Gbogbo Iwe     Raliat Islamic Foundation     Baboko     Timothy Olatunde Fadipe     Salau Kabiru Abdullahi     Government Girls’ Day Secondary School Pakata     Benin Republic     Ballah     Abubakar Usman Jos     Abdulkareem Alabi     Yakubu Shaaba     Abubakar Imam     Students Union Government     Olayinka Are     Laduba     Mohammed Ibrahim     New Model Police Station     Bello Bature     Dapo Teni Nig Enterprise     Rapheal Ashaolu     Bello John Olanrewaju     Saadu Alanamu     SAPZ Project     Nigeria Customs Service     Ilorin     Fatai Olodo     Yahaya A Paniyaro     Charcoal     Okedare     Shururat Olatinwo     Olaitan Buraimoh