MPC backs expanded naira-for-crude deal to ease fuel pressure

…Warns excess cash, election spending may fuel inflation
By Chinwendu Obienyi
Ahead of the upcoming Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria, its members are increasingly projecting the naira-for-crude arrangement as a critical buffer against rising fuel costs and renewed inflationary pressures amid growing global geopolitical tensions.
The position comes as concerns mount over the possible impact of escalating conflict in the Middle East on crude oil prices, global trade flows and domestic inflation across oil-import dependent economies, including Nigeria.
For now, US Vice President JD Vance said Washington is making “progress” in Iran peace talks a...