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.

Oasis Muslim Care Foundation     Kisra     Dankaka     Oyelere Oyinloye     Eghe Igbinehi     NaAllah     Omoniyi     Chartered Institute Of Personnel Management Of Nigeria     Ndama Al-hassan     Seun Bolaji     KWSIEC     Alapado     Bamidele Adegoke Oladimeji     Ashiru     Olokoba Abdullahi Ayinla     Abdulrazaq Adebayo     Hijaab     Ibrahim Mashood     Umaru Saro     Sulyman Abdulkareem     Agboola Abdulraheem     CBT     Rotimi Atere     HICA     Bisi Kristien     Funmilayo Oniwa     Oba-Solagberu     Orire     Iponrin     Suleiman Mora Omar     CCB     Tinubu Legacy Forum     Senate President     Kwara State Internal Revenue Service     Sidikat Uthman Ajibola     MMWG     Mopelola Abdulmaliq-Bashir     Farouk Salim     NFAI     Oja-Oba     Kwara State Coalition Of Business And Professional Associations     Ilorin Amusement Park     Alfa Modibo Belgore     Shuaib Boni Aliyu     Jimoh Olusola Imam     Mohammed Halidu     Aisha Ahman-Pategi     Abiodun Musa Aibinu     Olofa Of Offa     Tafida Of Kaiama     Isiaka Alikinla     Abdulrahman Onikijipa     Ahmad Ali     Abdulrasheed Akogun     Umar Bayo Abdulwahab     Wahab Kunle Shittu     JAAC     Kwara Central     Mahmud Durosinlohun Atiku     Transition Implementation Committee     Okasanmi Ajayi     Sun Qing Rong     Zubair Folorunsho Erubu     Surajudeen Akanbi     Jumoke Monsura Gafar     Babaita     Muhammadu Buhari     Gobir     Logun     Sheriff Shagaya     Ayodele Olaosebikan     Guber Aspirant     International Aviation College     Emir Of Lafiagi     Ibrahim Abduquadri Abikan     New Nigeria People’s Party     Arinola Fatimoh Lawal    

Cloud Tag: What's trending

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

National Party Of Nigeria     Lukman Adeloyin     Oloruntoyosi Thomas     Principal Private Secretary     Femtech     Federal Neuro-Psychiatric Hospital     NaAllah     Abubakar Abdullahi Bata     Kwara State Television     Oluwarotimi Boluwatife Adenike     Musa Aibinu     Aiyedun     Risikat Lawal     Isaac Gbenle     AbdulRahman Saad     Oke-Ero     Abdulrazaq Aiyelabegan     Adamu Ibrahim Sabi     David Oyedepo     AbdulRasaq Abdulmajeed Alaro     Amuda Aluko     Olabode George Towoju     Tafida Of Kaiama     Senior Ibrahim Suleiman     Issa Baba     Lanre Olosunde     Playing Host     Salmon Babatunde Salmon     Ahman Pategi     Admiralty Villa     KWASAA     Amusement Park     Jaigbade Alao     Gaa Olobi     Amos Bajeh     Salake     Moses Afolayan     Sarah Jubril     Olatunji Bamgbola     Saliu Shola Taofeek     Razaq Atunwa     Yahaya Oloriegbe     Shoprite     Temi Kolawole     Adewuyi Funmilayo     Magaji Nda     Ayo Adeyemi     Abdulazeez Uthman     Deji Ajani     Leke Ogungbe     IQRA College     Awili Pedro     Haashim Initiative For Community Advancement     Florence Saraki     Oyin-Zubair     National Pilot     NURTW     Amosa     Rabiu Kwankwaso     AbdulHamid Adi     Abdulrahman Abdulrazaq     Ishaq Salman     Mohammed Tunde-Jimoh     Toyin Olayinka Tejidini     Muhammad-Mustapha Suleiman     Turaki Of Ilorin     Emir Of Ilorin     Hikmah AbdulKareem     Aishat Mohammed Lawal     Haliru Yahaya     Adekunle David Dunmade     Umar Ayinla Saro     Summit University     Harmony Holdings     Yoonus Lawal     Oniyangi     Kwasu