Africa
eng
ENGengFRfr
Sub-Saharan Africa
Sputnik brings you all the most recent information, major events, heroes and views, including breaking news, images, videos, analyses, and features.
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
sub-saharan africa
nigeria
china
russia
brics
trade
de-dollarization
currency
alternative currency
oil
https://cdn1.img.sputniknews.africa/img/07e8/04/11/1066109533_0:129:3186:1921_1920x0_80_0_0_7683d1236b1955f0d3ccc113be68e417.jpg
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.
nigeria
china
russia
west africa
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
252
60
2024
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
252
60
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
252
60
1920
1080
true
1920
1440
true
https://cdn1.img.sputniknews.africa/img/07e8/04/11/1066109533_228:0:2959:2048_1920x0_80_0_0_54ac8f786d5a5a9d75ac7f76291ca193.jpg
1920
1920
true
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
252
60
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’

10:44 17.04.2024
© Sputnik . Alexander DemianchukChinese banknotes in denominations of 100, 50, 20, 10 and 5 yuan and Russian 1000 and 100 ruble bills.
Chinese banknotes in denominations of 100, 50, 20, 10 and 5 yuan and Russian 1000 and 100 ruble bills. - Sputnik Africa, 1920, 17.04.2024
© Sputnik . Alexander Demianchuk
Subscribe
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.
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.

“Nigeria by itself cannot change that, but if the collective of oil exporters decides to take action to change that, then Nigeria would follow suit,” he said. “For Nigeria, there's no pursuing the objective of de-dollarization, but we are open to enlarging the basket of currencies.”

Several countries, such as China and Russia, have started to trade commodities like oil in currencies other than the dollar.
Opinion
Infographic
Special operation in Ukraine
Video
International
Sub-Saharan Africa
North Africa
Russia
App StoreGoogle playAndroid APK
© 2024 Sputnik All rights reserved. 18+
Newsfeed
0