Amid lingering dollar scarcity, the amount of foreign exchange used by Nigeria for food, fuel and other imports jumped by 45 percent in the first half of this year compared to the same period last year.
The country spent $14.5 billion on imports in the six-month period, up from $10.04 billion in H1 2021, according to the Central Bank of Nigeria‘s (CBN) data on sectoral utilisation for transactions valid for forex.
The industrial…
