The Federal Government of Nigeria has dismissed recent media reports suggesting that a proposed forward sale of crude oil by the Nigerian National Petroleum Company Limited (NNPC Ltd) has collapsed.
In a press statement released on Wednesday, June 11, 2025, the government clarified that while such transactions often attract market speculation, especially amid ongoing economic reforms, no final decision has yet been made regarding any crude oil forward sale initiative.
Director of Information and Public Relations, Mohammed Manga, stated that reports claiming the deal has fallen through are “unfounded” and not based on any official announcement.
“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 statement added.
This clarification comes amid increasing attention on Nigeria’s efforts to boost foreign exchange inflows and stabilize the economy through strategic use of its oil resources.
