The House of Representatives has established an ad-hoc committee to oversee the implementation of the Federal Government\u2019s Naira-for-Crude Oil Policy, a key economic reform under President Bola Tinubu\u2019s administration.<\/p>\n\n\n\n
Inaugurated on Wednesday in Abuja, the committee is tasked with ensuring transparency, accountability, and effective execution of the initiative, which aims to strengthen Nigeria\u2019s economy by promoting the use of the naira in crude oil transactions.<\/p>\n\n\n\n
Speaker of the House Abbas Tajudeen, represented by Minority Leader Kingsley Chinda, emphasized the importance of the committee\u2019s work. \u201cIts work is critical to making sure the objectives of the policy are met, and that any gaps in execution are promptly addressed,\u201d he said.<\/p>\n\n\n\n
The Speaker noted that the policy has far-reaching implications for Nigeria\u2019s foreign exchange stability, revenue generation, and long-term energy security. He expressed confidence that the committee would deliver results that align with the expectations of the House and the Nigerian people.<\/p>\n\n\n\n
Chairman of the committee, Boniface Emerengwa, highlighted the potential benefits of the policy, stating, \u201cIf well-structured, it will boost confidence in the Naira, reduce pressure on our reserves, stimulate domestic economic activities, and reinforce Nigeria\u2019s sovereignty over its resources.\u201d<\/p>\n\n\n\n
The committee\u2019s mandate includes critically examining the feasibility and sustainability of the policy, engaging with stakeholders across government and industry, and making evidence-based recommendations to guide the House.<\/p>\n","protected":false},"excerpt":{"rendered":"
The House of Representatives has established an ad-hoc committee to oversee the implementation of the Federal Government\u2019s Naira-for-Crude Oil Policy, a key economic reform under President Bola Tinubu\u2019s administration. Inaugurated on Wednesday in Abuja, the committee is tasked with ensuring transparency, accountability, and effective execution of the initiative, which aims to strengthen Nigeria\u2019s economy by promoting the use of the naira in crude oil transactions. Speaker of the House Abbas Tajudeen, represented by Minority Leader Kingsley Chinda, emphasized the importance of the committee\u2019s work. \u201cIts work is critical to making sure the objectives of the policy are met, and that any gaps in execution are promptly addressed,\u201d he said. The Speaker noted that the policy has far-reaching implications for Nigeria\u2019s foreign exchange stability, revenue generation, and long-term energy security. He expressed confidence that the committee would deliver results that align with the expectations of the House and the Nigerian people. Chairman of the committee, Boniface Emerengwa, highlighted the potential benefits of the policy, stating, \u201cIf well-structured, it will boost confidence in the Naira, reduce pressure on our reserves, stimulate domestic economic activities, and reinforce Nigeria\u2019s sovereignty over its resources.\u201d The committee\u2019s mandate includes critically examining the feasibility and sustainability of the policy, engaging with stakeholders across government and industry, and making evidence-based recommendations to guide the House.<\/p>\n","protected":false},"author":2,"featured_media":24999,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":["post-27087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-parliamentary-news"],"_links":{"self":[{"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/posts\/27087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27087"}],"version-history":[{"count":1,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/posts\/27087\/revisions"}],"predecessor-version":[{"id":27088,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/posts\/27087\/revisions\/27088"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=\/wp\/v2\/media\/24999"}],"wp:attachment":[{"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fctnewsgazette.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}