Speaker Abbas Inaugurates Ad-hoc Committee on Naira for Crude Oil Policy

The Speaker, House of Representatives, Tajudeen Abbas Wednesday inaugurated an ad-hoc committee mandated to investigate the implementation and oversight of the Federal Government’s Naira-for-Crude Oil Policy.

Speaking at the National Assembly complex in Abuja, Tajudeen described the exercise as a critical step in ensuring transparency, accountability and efficiency in the management of one of the nation’s most important energy sector policies.

The committee is chaired by Hon. Boniface S. Emerengwa and is expected to examine the policy’s framework, effectiveness and inter-agency coordination.

The Speaker said the House anticipated nothing less than a “thorough, impartial, and well-documented” process.

According to him, the policy carries far-reaching implications for Nigeria’s foreign exchange stability, revenue generation, and long-term energy security. He stressed that a proper review would help determine whether its objectives are being met and identify gaps that require correction.

Abbas noted that the 10th House of Representatives remains committed to advancing President Bola Tinubu’s Renewed Hope Agenda by tackling economic challenges and aligning legislative priorities with the aspirations of Nigerians.

He urged the committee to engage widely with stakeholders, including government agencies, industry players and civil society, saying that broad consultation would ensure balanced recommendations that promote national interest and strengthen public confidence.

The Speaker charged members of the committee to carry out their task with diligence, courage and integrity, reminding them that their work would directly impact millions of Nigerians.

He expressed confidence in their competence and pledged the support of the House. adding that its recommendations would guide future legislative action on the policy and contribute to safeguarding Nigeria’s economic and energy future.