If our leaders still have some brain left, Nigeria would stop exporting crude oil. Refine all the crude locally. Sell products to local and international buyers in naira. Let buyers source the naira. Don't also forget the humongous volume of gas wasted by way of flaring
It’s not that easy. For Nigeria to decide we will stop exporting and refine all locally, it must mean NNPC has the capacity to extract the crude. Today NNPC has 0% capacity to extract. They simply collect their 60% share (as JV partner) of whatever Chevron, Shell, Eni etc extract. In some cases, that 60% is sold to the JV partner without opportunity for local use/purchase. It is quite a shame what NNPC is.
Diasporas send remittances for supporting friends and family, not to invest in govt instruments
If our leaders still have some brain left, Nigeria would stop exporting crude oil. Refine all the crude locally. Sell products to local and international buyers in naira. Let buyers source the naira. Don't also forget the humongous volume of gas wasted by way of flaring
It’s not that easy. For Nigeria to decide we will stop exporting and refine all locally, it must mean NNPC has the capacity to extract the crude. Today NNPC has 0% capacity to extract. They simply collect their 60% share (as JV partner) of whatever Chevron, Shell, Eni etc extract. In some cases, that 60% is sold to the JV partner without opportunity for local use/purchase. It is quite a shame what NNPC is.
Only a fool will buy Nigerian bonds, when all they do is mismanage funds