3 ms·
I thought Nigeria was a major oil producer. No ? If yes, why are they paying for fuel in dollars ?
by nagasadhu 4y ago
I thought Nigeria was a major oil producer. No ?
If yes, why are they paying for fuel in dollars ?
- boeingUH60 4y agoWe export raw crude oil, but don’t refine it into various byproducts (including aviation fuel) in significant amounts. This is a perfect example of the government incompetence I’m talking about. We had a few major refineries in the past, but they were mismanaged out of existence. In summary, we export crude, and the buyers refine it and send it back to us as imports (with markups of course).