FINANCE MINISTRY DEBUNKS REPORTS ON FORWARD CRUDE OIL SALE ..... Says "No Final Decision Has Been Announced By Federal Government."

"While market speculation is not uncommon in the context of ongoing economic reforms and transactions, no final decision has been announced by the Government, and commentary suggesting the collapse of any such initiative is unfounded."

The Federal Ministry of Finance, on behalf of the Government of Nigeria has revealed that it is aware of recent media reports concerning a potential forward sale of crude oil involving the Nigerian National Petroleum Company Limited (NNPC Ltd).

The Finance Ministry, in a statement issued and signed by Mohammed Manga, Director Information and Public Relations disclosed that, "While market speculation is not uncommon in the context of ongoing economic reforms and transactions, no final decision has been announced by the Government, and commentary suggesting the collapse of any such initiative is unfounded."

The statement further disclosed that the "Government remains focused on deploying a range of innovative, transparent, and fiscally responsible financing strategies to optimise Nigeria’s oil assets, improve external liquidity, and strengthen macroeconomic stability."

www.finance.gov.ng