The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to ensure full transparency in the domestic pricing framework under the Naira-for-Crude policy. Speaking in Lagos, the Director-General of MAN, Segun Ajayi-Kadir, stressed the need for a clear and accountable pricing matrix, alongside uninterrupted crude supply to local refineries without bureaucratic delays. He described the policy of selling crude oil in naira to domestic refineries as a major structural milestone but noted that its current implementation requires urgent optimisation to deliver real economic benefits. According to him, “The Federal Government should mandate total transparency in the domestic pricing matrix and ensure that local refineries receive their full, unhindered daily crude quotas without bottlenecks. The true macroeconomic benefits of this policy must reach both consumers and the productive sector.” Ajayi-Kadir also urged the government to accelerate the Presidential Compressed Natural Gas Initiative by heavily subsidising the conversion of commercial and industrial transport fleets to compressed natural gas (CNG). He noted that logistics costs significantly drive inflation, adding that a shift from petrol and diesel to locally available CNG could help reduce prices.

Sun