Nigeria to Keep Oil-for-Fuel Swap for at Least 3 More Years
- Program to persist until nation is able to revamp refineries
- Nigeria now aiming to get the plants fully working by 2023
This article is for subscribers only.
Nigeria will continue swapping crude for fuel for at least three more years because its refineries are still not fully operational.
Africa’s biggest oil producer, which previously had a goal of revamping the plants by this year, will persist with an annual swap program until the refineries are fixed by 2023, Mele Kyari, the state oil company’s new managing director, said in an interview in Abuja. The latest round of the swap program, known as Direct Sale, Direct Purchase, or DSDP, will run until September 2020 and then be extended.