Nigeria’s $3 billion oil debt to complicate President Bola Tinubu's reforms

These four traders and executives made this information known to the American news agency, Reuters.

According to four traders and executives, Nigeria has accrued up to $3 billion in arrears to trading companies such as Vitol and oil giants such as BP (BP.L) for gasoline deliveries and is four to six months behind schedule in repaying them with crude shipments.

Tinubu lifted petrol price controls and naira currency limitations in his first two weeks in office, liberalization moves that investors had been waiting for more than a decade.