H.E. Mr. Naji Mohammed Issa, Governor of the Central Bank of Libya, met with Mr. Khalifa Rajab Abdel-Sadiq, Minister of Oil and Gas in the Government of National Unity. The meeting aimed to strengthen coordination between the two institutions in support of the oil sector and to help drive the national economy on Tuesday, May 6, 2025, .

During the meeting, the latest developments in oil production levels were reviewed, alongside a discussion of key challenges facing the oil sector and the means of providing the necessary support to the National Oil Corporation (NOC) to implement its plans to increase production and improve operational efficiency.

The discussions also addressed the potential negative impact of declining global oil prices and the resulting economic challenges, particularly those related to public revenue streams.

Additionally, the meeting underscored the importance of enhancing cooperation between the CBL and the Ministry of Oil and Gas in a manner that promotes financial stability and ensures the availability of resources required for the development of infrastructure in this strategic sector. Both parties emphasized the need for the regular deposit of oil sales revenues into the government’s accounts at the Central Bank of Libya, in order to guarantee transparency and efficiency in the management of the state’s public revenues.