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The Federal Government has dismissed recent reports suggesting the collapse of a proposed forward crude oil sale involving the Nigerian National Petroleum Company Limited (NNPC Ltd).
In a press statement issued by Spokesperson of the Federal Ministry of Finance, Mohammed Manga, on Wednesday, the Federal government clarified that no final decision has been made on the transaction, and described the reports as speculative and unfounded.
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“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,” it said.
The Federal Government emphasised that it is committed to pursuing innovative and fiscally responsible strategies to optimize the country’s oil assets, improve external liquidity, and promote macroeconomic stability.
