Nigeria: Baru Explains Benefits of Petroleum Exchange

20 December 2007

The Nigerian petroleum exchange (NipeX) introduced last year by the Nigerian National Petroleum Corporation (NNPC) allows value to be delivered in the areas of online advertising, electronic request for proposals and request for quotations, online reverse auctions, better collaboration between buyers and suppliers and faster and more efficient contract approvals.

NipeX also helps identify in-country capacity, oversees capability assessment of suppliers' competencies, conducts performance measurement and profiling of companies and monitors Nigerian content across the industry.

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