The Federal Government has reacted to media reports suggesting that a forward sale of crude oil involving the Nigerian National Petroleum Company Limited (NNPC Ltd) may have collapsed.
The reports, which spread across various platforms, came amid ongoing economic reforms.
However, the government said no final agreement has been reached on the proposed crude oil transaction.
It explained that while such market talks are not unusual, claims that the deal has failed are not based on any official update.
The government also stated that it is still working on new and clear financial strategies to get the best value from the country’s oil resources, boost foreign reserves, and support the economy.
This was made known in a statement issued by the Director of Information and Public Relations at the Federal Ministry of Finance on June 11, 2025.
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