Nigeria: Dollar Scarcity May Hamper Shell's Planned Sale of Nigerian Assets

16 September 2021

The current challenge of dollar-crunch in the country may hinder plans by Royal Dutch Shell to sell off its onshore and shallow water assets, being managed by its Nigerian unit, the Shell Petroleum Development Company (SPDC), THISDAY learnt yesterday.

A Bloomberg report indicated that Nigeria's lenders likely do not have enough dollars to fund clients seeking to acquire the oil assets put on sale by the International Oil Company (IOC), quoting Guaranty Trust Bank Plc.

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