Good Policy on Nigeria’s Fuel for Naira Policy
This is good policy and Nigeria should not over-analyze slam dunk ideas which are self-evident that they're the best. In short, we should make giving local refineries crude oil in Naira a standing national policy. That we wasted time, debating this policy, and in the process creating perturbation in the economy, must not happen again. Good enough, the presidency moved in and stopped the confusion:
"In a strategic reversal of the Nigerian National Petroleum Company Limited’s (NNPCL) decision, President Bola Tinubu’s administration has reinstated the naira-for-crude oil policy, describing it as a cornerstone initiative intended to protect the country’s economy from mounting external shocks."
Now refineries, you have to return the love and also make sure the gains on currency do not become higher margins. Yes, make sure Nigerians win also because Nigeria is subsidizing your raw materials.
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