The Speaker of the House of Representatives, Tajudeen Abbas, has expressed the readiness of the parliament to ensure the transparent and effective implementation of the Federal Government's naira-for-crude oil policy.
The policy is part of the Federal Government's broader economic initiative to stabilise the naira, improve energy security, and deepen local value addition within the country's petroleum sector. It also aligns with the economic reform initiative of the Federal Government focused on reducing inflationary pressures, boosting domestic production, and improving Nigeria's trade balance.
Represented by the House Minority Leader, Kingsley Chinda, at the inauguration of the Ad-hoc Committee on the Implementation and Oversight of the policy in Abuja on Wednesday, Abbas described the exercise as a crucial step aimed at strengthening transparency and efficiency in one of Nigeria's most important energy sector reforms.