The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun today received a high-level delegation from Nigeria’s downstream petroleum sector, led by Mr. Abdulkabir Adisa Aliu, Chief Executive Officer of Matrix Energy.

The delegation also included Yakubu Maishanu, Chairman/CEO of AYM Shafa Ltd, and Alhaji Auwalu Abdullahi Rano, CEO of A.A. Rano. Together, the group reaffirmed its commitment to market stability, expanded private investment, and continued support for the federal government’s reform agenda.

Discussions focused on the visible economic impact of recent policy measures, including the successful transition away from petrol subsidies, enhanced domestic supply, improved exchange rate stability, and a notable reduction in pump prices. The marketers noted that collectively, their companies now supply nearly 20 million litres of petrol daily—without fiscal burden on the government—underscoring the effectiveness of private sector-led distribution.

The delegation welcomed the government’s supportive policy stance and encouraged continued clarity to further strengthen investor confidence and ensure smooth market operations. They also reiterated their commitment to accelerating investment in Compressed Natural Gas (CNG) infrastructure, in line with national energy transition goals.

HM Edun commended the downstream operators for their leadership and resilience, acknowledging their critical role in ensuring energy security and supporting sustainable growth. He reaffirmed the federal government’s commitment to fostering a stable policy environment that encourages private investment and drives inclusive development in alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

This engagement reflects the deepening partnership between public and private sector actors in delivering a more competitive, resilient, and forward-looking energy market for all Nigerians.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Wednesday, attended a key meeting of the Federal Executive Council’s Steering Committee on Domestic Crude Oil and Refined Products Sales in Naira.

The session brought together senior officials from the Federal Inland Revenue Service, NNPC, Dangote and NNPC Refineries, the Central Bank, NMDPRA, NUPRC, and the Nigerian Ports Authority.

The meeting underscored the importance of ongoing collaboration through the One Stop Shop mechanism, with a focus on accelerating Nigeria’s transition to a self-reliant energy market. The crude-for-naira framework is central to stabilising the FX market, supporting local industry, and reducing reliance on imports—offering long-term benefits for both Nigerians and the private sector.

Steering Committee’s review marks a significant milestone in Nigeria’s journey towards energy market reforms, paving the way for increased economic stability and growth.

In a significant step towards strengthening Nigeria’s economy and achieving sustainable growth and development, the Federal Government has launched the Revenue Optimization and Assurance Project (REV-OP). This strategic initiative aims to address revenue leakages, enhance transparency, and drive economic development. 

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun officially unveiled the project, a flagship initiative designed to strengthen Nigeria’s public financial management and revenue systems when he chaired a high-level session today in his office in Abuja.

The REV-OP initiative introduces a bold new framework grounded in transparency, efficiency, and digital transformation. *This is not a rebrand, but a clean break,* the Minister stated. He added that the project *marks the start of a more secure and accountable financial future for Nigeria.* 

The session brought together representatives from the Federal Inland Revenue Service (FIRS), the Central Bank of Nigeria (CBN), and the Office of the Accountant General, alongside key private-sector technology partners.

To ensure robust oversight and delivery, a two-tier governance structure has been established, comprising a Steering Committee and a dedicated Project Management Team, with daily coordination meetings to drive momentum and execution. This structure is expected to enhance accountability, facilitate effective decision-making, and ensure timely implementation of project objectives. 

The REV-OP initiative aligns closely with President Bola Ahmed Tinubu’s economic vision to increase domestic revenue, plug leakages, and build a stable, investor-friendly fiscal environment.

As Nigeria embarks on this transformative journey, the Revenue Optimization and Assurance Project is poised to drive economic growth, improve revenue collection, and enhance transparency in public financial management. With REV-OP, the Federal Government is committed to building a more prosperous and sustainable future for the nation.