The Federal Government of Nigeria is aware of recent media reports concerning a potential forward sale of crude oil involving the Nigerian National Petroleum Company Limited (NNPC Ltd).

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 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.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has welcomed UN-Habitat’s technical support in shaping modern, investable urban spaces while also 

underscoring the importance of land reforms in creating jobs, enhancing state-level revenue, and enabling public-private collaboration in cities overdue for structured renewal.

The Minister reaffirmed this today in his office in Abuja when he received a delegation from the United Nations Human Settlements Programme (UN-Habitat), led by the African Regional Director, Mr Mathias Spaliviero for a strategic dialogue on accelerating land reforms and sustainable urban development in Nigeria.

The conversation focused on the catalytic role of land titling, documentation, and spatial planning in unlocking investment into Nigeria’s urban infrastructure and housing sectors. 

UN-Habitat expressed strong support for the Federal Government’s renewed commitment to the Nigeria Land Titling and Documentation Programme, which is designed to improve land security, expand the tax base, and stimulate private capital flows into real estate, agriculture, and logistics.

In a bid to bolster Nigeria’s food security, the Federal Government has strengthened its collaborative initiative with the Japan International Cooperation Agency (JICA). This partnership is aimed at supporting the country’s food production systems and enhancing resilience amid global supply challenges. 

The initiative took a significant step forward today as the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun and the Honourable Minister of Agriculture and Food Security, Senator Abubakar Kyari, met with senior representatives of JICA to advance the implementation of the Food Security Emergency Loan Support Programme.

The JPY 15 billion facility (approximately $110 million) aims to support Nigeria’s food production systems and enhance resilience amid ongoing global supply challenges. With the rainy season now underway, both Ministers emphasised the importance of swift, coordinated action to maximise impact for farmers and rural communities. 

JICA welcomed the government’s commitment to delivery and requested formal clarification on proposed implementation adjustments. It was jointly agreed that core production activities would proceed immediately under the existing framework, while additional components, such as aggregation and financing, would be reviewed in line with the original loan agreement.

This partnership underscores the commitment of both governments to addressing food security challenges and improving the livelihoods of millions of Nigerians, while also driving economic growth and development in the country.