FG allocates new crude oil terminals to Swede Control Intertek

The Nigerian Federal Government has assigned two additional crude oil terminals to Swede Control Intertek Limited, a company that serves as a Pre-shipment Inspection Agent. This decision was officially communicated through a statement signed by Aderinola Shonekan, the Director of the CBN's Trade and Exchange Department.

The allocation signifies a move by the government to manage its crude oil export processes. Swede Control Intertek's role as a pre-shipment inspection agent involves verifying the quality and quantity of crude oil before it is shipped, ensuring compliance with regulatory standards and contractual agreements.

This development is part of the broader framework for managing Nigeria's vital oil sector. The involvement of the Central Bank of Nigeria in announcing such allocations highlights the financial and economic significance of these terminals and the oversight the bank maintains over trade and exchange activities related to the country's primary export commodity.