Nigeria begins selling oil and petroleum products in Naira, shifting from foreign currencies.

Nigeria has officially started selling crude oil and refined petroleum products in its local currency, the Naira. This significant move marks a historic shift in the country's oil trade, aiming to strengthen the Naira and reduce dependence on foreign currencies for oil transactions. The decision reflects Nigeria's efforts to enhance its economic sovereignty and bolster domestic financial stability.

October 05, 2024
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