In a bold move to strengthen Nigeria’s refining capacity, the Federal Government has placed an outright ban on the export of crude oil allocated to local refineries. The directive, aimed at ensuring sufficient supply for domestic processing, is expected to bolster fuel production and reduce reliance on imports.
Government officials stress that the decision aligns with ongoing reforms to maximize value from Nigeria’s oil resources. Analysts believe this could stabilize fuel prices and enhance energy security. However, industry stakeholders are keenly watching how the policy will be enforced and its impact on refinery operations.
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