Nigeria - According to THE WILL, President Muhammadu Buhari has issued a directive which has blocked Nigerian owned oil companies from lifting crude oil in the country.
Reports say it's the first step in a larger plot to freeze out
indigenous companies which grew their operations tremendously under the
previous administration due to the firm implementation of the federal
government’s Local Content Law.
No indigenous oil trading company including the 28 local firms that won
contracts last year are being allowed to lift crude from oil platforms
following the presidential directive, which insiders believe infringes
on the Local Content Law and could lead to the demise of oil companies.
Coincidentally, most of the companies affected are owned by people from
Southern Nigeria, particularly the South-East and the oil-rich Niger
Source: THE WILL
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