Post by Arinze Harrison Nwachuwu (@Harrison)
Can someone pls break it down for me like i'm an idiot the reason while Nigerian government can't sell our abundant crude to Dangote in our own currency so that it'd be cheaper and affordable and on the long run the global wahala wouldn't be the determinant factor of our price here??
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WealthGeneral: Why they don’t just sell in naira to make fuel cheap:
Oil is traded globally in dollars
Naira is unstable
Government needs dollar revenue
Dangote still operates in a dollar-based system
Global prices will still affect local prices anyway
Oil is traded globally in dollars
Naira is unstable
Government needs dollar revenue
Dangote still operates in a dollar-based system
Global prices will still affect local prices anyway
Davies Austin: It's because the federal government is satanic