Food Importation Gulps $689.88 million in Q1 2024
The import of food products gulped about $689.88 million in the first quarter of 2024, which is about 17% of the total foreign exchange (FX) spending on imports. This is according to the sectoral utilization of foreign exchange data contained in the quarterly statistical bulletin of the Central Bank of Nigeria (CBN). The CBN data shows that there was a 40% increase in the amount of FX spent on food […]
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