Yahaya Muhammad
The Confederation of All Progressive Congress Support Group (CAPSG) has hailed Nigeria National Petroleum Company Limited for announcing the New Nembe crude oil grade into the International crude oil market.
The Director of the support groups, Engineer Kailani Muhammed stated this in a news conference to journalists in Kaduna.
Engineer Kailani Muhammed explained that the new blend is coming at a time when the lingering conflict between Russia and Ukraine has made many European countries seek crude oil products that align with their market.
The Director General of Confederation of APC support groups said since the war, the crude oil industry has been changing faster than ever before, as markets in Europe become more tied in with global crude oil trade.
He explained that with the introduction of Nembe grade, Nigeria's crude oil grade is on its way to becoming a steady preference for many European refineries.
Engineer Khailani Muhammed also commended President Bola Ahmed Tinubu for ordering the immediate cancellation of a policy empowering the federal government to automatically deduct forty percent from the internal generation revenue. (IGR) of federal universities.
He expressed optimism that with President Asiwaju Bola Ahmed Tinubu led administration Nigerians should be assured that the challenges of a bad economy and insecurity will soon become a thing of the past.
Engineer Khailani Muhammed added that from all indications the move by the NNPCL is a significant development for Nigerians, as it will help to diversify the country's crude oil exports and reduce its reliance on it.
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