BRICS: Nigeria Plans To Sell Oil in Local Currency

Nigeria had applied to join BRICS in 2023 but the application was rejected at the15th summit in Johannesburg. Despite the rejection, Nigeria is looking at possible ways to join BRICS and be a part of the bloc. The African country wants to strengthen its local currency, the Naira, by allowing other countries to settle trade in their tender. The Senior Advocate of Nigeria, Femi Falana has urged the Federal Government to follow BRICS ideals of de-dollarization and sell crude oil in local currency Naira and not the US dollar.

Falana urged the Nigerian government to rely less on the US dollar and use Naira for crude oil payments. The State-advocate called the government to ignore predictio

#TrendingTopic