Reps vow accountability, strong oversight of Naira-for-Crude Policy

By Gift ChapiOdekina, Abuja

ABUJA — The House of Representatives has pledged to guarantee transparency, accountability, and effectual implementation of the Federal Government’s Naira-for-Crude Oil Policy.

Speaker Abbas Tajudeen, represented by Minority Leader Kingsley Chinda, gave the assurance connected Tuesday during the inauguration of the Ad-hoc Committee connected the Implementation and Oversight of the policy.

He described the workout arsenic a important measurement toward strengthening ratio and transparency successful Nigeria’s vigor sector, stressing that the committee has a captious work to show implementation, guarantee inter-agency coordination, and measure the policy’s effectiveness.

“The House expects thing little than a thorough, impartial, and well-documented process that contributes to the stableness of our economy,” Abbas said.

Highlighting the policy’s far-reaching implications for overseas speech stability, gross generation, and vigor security, the Speaker noted that a broad reappraisal volition find whether its goals are being met and place indispensable adjustments.

He reaffirmed the 10th House’s committedness to supporting President Bola Ahmed Tinubu’s Renewed Hope Agenda, peculiarly successful tackling economical challenges, safeguarding nationalist resources, and promoting citizens’ welfare.

Abbas emphasized that stakeholder engagement volition beryllium cardinal to the committee’s work, urging members to behaviour their duty with integrity, objectivity, and dedication.

Committee Chairman Hon. Boniface Emerengwa, successful his remarks, said Nigeria’s abundant crude lipid reserves person not ever delivered maximum worth for citizens.

He explained that the volatility of overseas speech markets and dependence connected the dollar marque it indispensable to research innovative solutions similar the Naira-for-Crude Policy.

“The argumentation seeks to make a model wherever crude lipid transactions are progressively denominated successful Naira alternatively than overseas currencies. If well-structured, it volition boost assurance successful the Naira, trim unit connected reserves, stimulate economical activities, and reenforce Nigeria’s sovereignty implicit its resources,” Emerengwa stated.

He added that the committee’s mandate is to critically measure the feasibility and sustainability of the initiative, prosecute with stakeholders crossed authorities and industry, and marque evidence-based recommendations to usher the House.

The station Reps vow accountability, beardown oversight of Naira-for-Crude Policy appeared archetypal connected Vanguard News.