Bonny, Rivers Bonny, Rivers Bonny (or Ubani) is an island town and a Local Government Area in Rivers State in southern Nigeria, on the Bight of Bonny. It was also the capital of the Kingdom of Bonny. Traditionally (especially between the 15th and 19th centuries) it was a major trading post of the eastern delta. Bonny Island, is a major export point for oil. The region produces a type of crude oil known as Bonny Light oil. Much of the oil extracted onshore in Rivers State is piped to Bonny for export. It has the biggest LNG Gas Plant in Nigeria with
Commodity currency Commodity currency A commodity currency is a name given to some currencies that co-move with the world prices of primary commodity products, due to these countries' heavy dependency on the export of certain raw materials for income. Commodity currencies are most popular in developing countries (eg. Burundi, Tanzania, Papua New Guinea). However developed countries like Canada and Australia can also have this type of currency. For example, the Canadian Dollar grows stronger, the higher the price of soybeans and oil because these are Canada's two major commodities. In the foreign exchange market, commodity currencies generally refer to the Australian dollar,