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Wale Edun, Minister of Finance and Coordinating Minister of the Economy
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday met with a high-level delegation of operators in Nigeria’s downstream petroleum sector on how to deepen reforms in the sector.
Discussions at the meeting centred on the economic impact of recent policy measures, including the transition away from petrol subsidies, enhanced domestic supply, improved exchange rate stability, and a notable reduction in pump prices.
The delegation which was led by the Chief Executive Officer of Matrix Energy, Abdulkabir Adisa Aliu also included the Chairman/CEO of AYM Shafa Ltd, Yakubu Maishanu, and the CEO of A.A. Rano, Alhaji Auwalu Abdullahi Rano.
The Director, Information and Public Relations, Ministry of Finance, Mohammed Manga, said in a statement that together, the delegation 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,” the statement said.
In his remarks, 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. (THISDAY)
