The lifting of sanctions against Iran could take up Nigeria’s share of oil export to India, findings have shown. Economic sanctions on Iran were lifted on Saturday after the UN nuclear agency certified that the country has committed stop of its nuclear programme. The lifting restores Iran’s access to the world’s markets. The country, according to reports, is expected to increase its daily export of 1.1m barrels of crude oil by 500,000 and a further 500,000 thereafter. Iran is said to be targeting India as its main destination for the crude and is already in supply negotiations with the country over export of thousands of barrels. If the crude supply deal sails through, it could for the first time in years shrink Nigeria’s crude export to India. India has remained the largest buyer of Nigerian crude since the United States cut its import of Nigeria’s crude. Prior to 2012 […]