Nigeria’s Local Currency Crude Oil Plan Hits Roadblocks
Julianne Geiger
Julianne Geiger is a veteran editor, author and scientist for Oilprice.com, and a member of the Creative Professionals Networking Group.
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By Julianne Geiger - Nov 22, 2024, 2:30 PM CST
Nigeria's enthusiastic technique to cost petroleum in naira for regional refineries has actually come across substantial problems simply 2 months after its rollout. Led by the Nigerian National Petroleum Company (NNPC), the strategy's objective was to support the nation's dollar reserves while guaranteeing adequate unrefined supply for domestic refining.
The effort ap...