In Nigeria, President Bola Tinubu is working to revamp the struggling oil sector as national production hits a record low and crude prices plummet following the announcement of new tariffs by Donald Trump. Just a week ago, the Nigerian leader dismissed several top executives from the national oil company, NNPC, and on Wednesday, the federal government declared that local refineries would be allowed to continue purchasing crude oil in the local currency.
The policy allowing the sale of crude oil and refined products in naira on the Nigerian market “remains in effect and will continue as long as it aligns with public interest and supports national economic goals,” stated a release…
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