Nigeria’s Monthly Import Demand For Forex Jumps To N102 billion Monthly
Nairametrics
The CBN Governor has said that Nigeria’s “import related demand for foreign exchange” rose to N102 billion monthly this year compared to a monthly average import bill of N12.4 billion in 2005; N65.6 billion in 2013; and N73.2 billion in 2014.
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, made the disclosure at the 40th anniversary and 22nd convocation ceremonies of the University of Maiduguri, Borno State, on Thursday.
This is despite the capital controls that have been put in place by the Government to curb the demand for the dollar. Nigeria spent about N6.6 trillion on imports in 2015 compared to about N7.3 trillion in 2014.
