Nigeria to End Crude-for-Fuel Swaps in 2023, Thisday Says
An employee walks along an upper level walkway aboard a floating oil production, storage and offloading vessel in the Niger Delta, Nigeria.
Photographer: George Osodi/Bloomberg
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Nigeria will end the exchange of its crude for fuel by 2023 as domestic refining capacity improves, ThisDay newspaper reports, citing Mele Kyari, head of the state-owned oil company.
The rehabilitation of the government’s refineries and the completion of a $15 billion refinery and petrochemical complex owned by Aliko Dangote will reduce the nation’s dependence on crude-for-fuel swaps, the Lagos-based newspaper reported Kyari, group managing director of the Nigerian National Petroleum Corp., as saying.