AGS NEWS – Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has reaffirmed the ministry’s dedication to partnering with the Central Bank of Nigeria (CBN) in the exportation of crude oil and gas.

This commitment was reiterated in a statement released by Helen Oby, the Head of Media and Public Relations Unit at the ministry, on Thursday.

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Edun conveyed this commitment during a one-day sensitisation seminar on Nigerian oil and gas exports, themed “Unlocking the Potentials of Nigerian Gas Exports: A Gateway to Sustainable Economic Development,” held in Kano State.

Represented by Idris Giwa, the Deputy Director of Trade Relations, Edun emphasized the necessity of increasing gas exports for Nigeria’s foreign exchange earnings, stating that relying solely on oil revenue is no longer viable.

He noted that the workshop aimed to deepen stakeholders’ understanding of the evolving regulatory framework, share best practices, and foster collaboration among relevant parties.

Edun highlighted ongoing collaboration between the Federal Ministry of Finance, CBN, and the Ministry of Mines and Steel Development in developing distinct mineral export guidelines.

These guidelines aim to determine mineral quantity, quality, and value for export purposes.

The minister mentioned that the draft Mineral Export Guidelines have undergone several reviews, incorporating stakeholder input and endorsements.

He assured that the ministry would continue working diligently to finalize the document in accordance with existing laws and government policies.

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Edun emphasized the need to review Crude Oil and Gas Export Guidelines to streamline the export process, accommodating the sector’s peculiarities and fostering self-reliance and sustainability.

He urged all stakeholders to adhere to regulations to achieve desired efficiency and effectiveness in cross-border trading.