Nigeria kicks the dollar currency; start selling crude oil in local currency
Nigeria, which is a country rich in oil and gas in Africa, has also announced that it will start selling crude oil in local currency with the intention of kicking it and discarding the dollar currency that is being misused by the US imperialist government to pressure other countries.
Nigeria, which is a country rich in oil and gas in Africa, has also announced that it will start selling crude oil in local currency with the intention of kicking it and discarding the dollar currency that is being misused by the US imperialist government to pressure other countries.
The most recent announcement by the Nigerian government has come after several countries started selling oil and gas in their local currencies and ditched the US dollar currency. The wave has gained more strength after the Western powers, led by the United States, imposed major sanctions on Russia under the pretext of the war in Ukraine since February 2022.
Mohammed Manga, the Director of Information and Public Relations at the Nigerian Ministry of Finance, said this in a statement yesterday, Sunday, adding that the main authorities involved in the oil sector in Nigeria have issued an order to sell the product using Naira, the local currency of the country. that and not in US dollar currency.
He added that the strategic plan is expected to bring great and lasting benefits to the Nigerian economy by strengthening its prosperity, stability in the market and self-sufficiency.
He emphasized that, Nigeria is still going through the problems of the international market and that this strategic move will provide the country with a good environment for success in the near future.
Nigeria has confirmed that it has oil reserves of about 37 billion barrels, which is 3.1 percent of the world's oil reserves.
Nigeria is one of the 15 leading countries in producing and exporting crude oil in the world, but its people continue to live in poverty due to extreme waste in the country.
