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1. • • Nigeria has commenced the sale of its crude oil to Dangote Refinery and other refineries in its local currency, Naira This initiative which began on October 1, 2024, has been confirmed by the Minister of Finance, Wale Edun. The sale of crude oil in Naira is aimed at stabilizing the economy and enhancing Nigeria’s economic growth and development
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     Nigeria Starts Selling Crude Oil to Dangote Refinery in Naira ...

2. People also ask

   How will Nigeria settle crude sales to Africa's newest oil refinery?

   • Gasoline storage tanks at the Dangote Industries Ltd. oil refinery in Lagos. Nigeria will settle crude sales to Africa’s newest and biggest oil refinery using the local currency’s rate in its foreign-exchange market, dousing concerns that it would fix below-market naira levels for the transactions.

   Nigeria to Set Naira for Dangote Crude Sales Using Market Rate

   www.bloomberg.com/news/articles/2024-10-09/nigeria-to-set-naira-for-dangote-crude-sales-using-market-rate

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   Will NNPC sell naira to Dangote Refinery?

   • REUTERS/Temilade Adelaja/File Photo Purchase Licensing Rights ABUJA, July 29 (Reuters) - Nigeria's government gave approval on Monday for state oil company NNPC Ltd to sell crude in the naira currency to the mega Dangote refinery effective immediately to help ease foreign exchange pressure.

   Nigeria allows state oil firm sales in local currency to mega refinery

   www.reuters.com/business/energy/nigeria-allows-nnpc-sell-oil-directly-dangote-refinery-cabinet-member-says-2024-07-29/

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   Why did Wale Edun buy Naira oil?

   • To ensure the refinery met the nation’s aspirations, a committee headed by Finance Minister Wale Edun reached a deal for the first-ever sale of crude in naira to the plant. This was to reduce pressure on the local currency and boost supply of gasoline to the domestic market.

   Nigeria to Set Naira for Dangote Crude Sales Using Market Rate

   www.bloomberg.com/news/articles/2024-10-09/nigeria-to-set-naira-for-dangote-crude-sales-using-market-rate

   See all results for this question

   How can I buy Nigerian Naira?

   • To buy Nigerian Naira, click here. If you have Nigerian Naira to sell, follow this link to exchange Nigerian Naira to Pounds: click on 'sell currency' and select 'NGN Nigerian Naira'. Manor FX offers great rates and really responsive, friendly customer support, making it a good choice for buying Nigerian Naira.

   Buy Nigerian Naira online – NGN home delivery | ManorFX

   www.manorfx.com/product/nigerian-naira/

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   Can I export Nigerian Naira?

   • Travelers leaving Nigeria are allowed to export up to 5000 Nigerian Naira, along with foreign currency up to the value declared upon arrival. You cannot export Nigerian Naira in larger quantities than this. Order Nigerian Naira online and have them delivered fast and securely to your home or office, with Royal Mail Special Delivery Guaranteed®. Or pick them up from our travel money shop near Heathrow.

   Buy Nigerian Naira online – NGN home delivery | ManorFX

   www.manorfx.com/product/nigerian-naira/

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   How big is Nigeria's oil refinery?

   • The $20 billion Dangote refinery, Nigeria's main oil refinery and billed to be the largest in Africa at full throttle, started production in January but has struggled to secure enough crude to meet its 650,000-barrel-per-day capacity.

   Nigeria allows state oil firm sales in local currency to mega refinery

   www.reuters.com/business/energy/nigeria-allows-nnpc-sell-oil-directly-dangote-refinery-cabinet-member-says-2024-07-29/

   See all results for this question

3. Top stories

   • 

     withinnigeria.com

     Nigeria’s Initiative to Sell Crude Oil to Local Refiners Shows Positive Results

     4 days ago

   • 

     TheCable

     Wale Edun: Crude oil sale in naira will make Nigeria attractive to investors

     3 days ago

   • 

     Pulse Nigeria on MSN.com

     Naira crude sale has set Nigeria's economy on path of industrialisation – Edun

     4 days ago

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4. www.reuters.com › business › energyNigeria allows state oil firm sales in local currency to mega ...

   www.reuters.com › business › energy

   Jul 29, 2024 · Nigeria's government gave approval on Monday for state oil company NNPC Ltd to sell crude in the naira currency to the mega Dangote refinery effective immediately to help ease foreign...

5. Videos

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     Nigeria Starts Selling Crude Oil in Naira Ahead of the BRICS Summit, Crushing the US Dollar

     14 Oct 2024

     86 views

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     youtube.com

     Nigeria to sell crude oil to Dangote in Naira - Ask Nigeria Live

     10 Oct 2024

     1 views

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     17:07

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     Nigeria to sell crude oil to Dangote in Naira Ask Nigeria Live

     9 Oct 2024

     11 views

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6. fmino.gov.ng › nigeria-takes-historic-leap-asNigeria Takes Historic Leap As Crude Oil Sales Commences In Naira

   fmino.gov.ng › nigeria-takes-historic-leap-as

   • Cached

   Oct 5, 2024 · The Honourable Minister of Finance and Coordinating Minister of the Economy, announced that, in line with the Federal Executive Council (FEC) directive, the sale of crude oil and refined petroleum products in Naira has officially commenced as of October 1, 2024.

7. www.bloomberg.com › news › articlesNigeria to Set Naira for Dangote Crude Sales Using Market Rate

   www.bloomberg.com › news › articles

   • Cached

   Oct 9, 2024 · Nigeria will settle crude sales to Africa’s newest and biggest oil refinery using the local currency’s rate in its foreign-exchange market, dousing concerns that it would fix below-market...

8. nairametrics.com › 2024/10/06 › fg-begins-sales-ofFG begins sales of crude oil to Dangote refinery, others in naira

   nairametrics.com › 2024/10/06 › fg-begins-sales-of

   • Cached

   Oct 6, 2024 · The Council decided that the 450,000 barrels allocated for domestic use will now be sold in Naira to Nigerian refineries, with Dangote Refinery serving as the pilot project. This measure is intended to stabilize both the pump price of refined fuel and the dollar-naira exchange rate.

9. www.bloomberg.com › news › articlesUSD/NGN: Nigeria Will Sell Oil to Dangote in Naira to Ease ...

   www.bloomberg.com › news › articles

   • Cached

   Jul 29, 2024 · Nigeria’s cabinet approved a plan to sell crude to the Dangote Petroleum Refinery in naira to alleviate pressure on the currency and stabilize domestic pump prices.

10. dailypost.ng › 2024/10/05 › nigerian-govt-announcesNigerian govt announces kickoff of Naira-for-crude sale with ...

    dailypost.ng › 2024/10/05 › nigerian-govt-announces

    • Cached

    Oct 5, 2024 · The Minister of Finance, Wale Edun, has announced that the Nigerian government has begun the Naira-for-crude sale deal with Dangote Refinery from October 1, 2024. The minister disclosed this...