Nigeria’s Oil Sector

The Naira-for-Crude policy, introduced on October 1, 2024, aimed to address the country’s long-standing oil importation challenges.  The policy allows domestic refineries to purchase crude oil in Naira instead of U.S. dollars, aiming to reduce foreign exchange pressure, boost local refining, and strengthen energy security. Now, six months later, the Naira-for-Crude policy is back in … Read more