https://en.sputniknews.africa/20240417/nigerias-budget-office-says-open-to-enlarging-basket-of-currencies-1066109211.html
Nigeria’s Budget Office Says Open to Enlarging ‘Basket of Currencies’
Nigeria’s Budget Office Says Open to Enlarging ‘Basket of Currencies’
Sputnik Africa
WASHINGTON (Sputnik) - This year, as Russia chairs of the expanded BRICS group, with Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates as the... 17.04.2024, Sputnik Africa
2024-04-17T10:44+0200
2024-04-17T10:44+0200
2024-04-17T10:44+0200
sub-saharan africa
nigeria
china
russia
brics
trade
de-dollarization
currency
alternative currency
oil
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Although Nigeria's primary source of foreign exchange continues to be oil, and the US dollar serves as the currency for oil transactions, Abuja is open to enlarging the "basket of currencies" in the country, Ben Akabueze, the Director General of the Budget Office of the Federation, told Sputnik. Several countries, such as China and Russia, have started to trade commodities like oil in currencies other than the dollar.
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nigeria, china, russia, brics, trade, de-dollarization, currency, alternative currency, oil, west africa, international
nigeria, china, russia, brics, trade, de-dollarization, currency, alternative currency, oil, west africa, international
Nigeria’s Budget Office Says Open to Enlarging ‘Basket of Currencies’
WASHINGTON (Sputnik) - This year, as Russia chairs of the expanded BRICS group, with Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates as the five new members, one of the bloc's top priorities is to promote international trade in local currencies.
