Nigeria Spends 30% of It's FX on Petrol Imports

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During a foreign investors’ meeting held in New York this week, Nigeria’s central bank governor Godwin Emefiele spoke to a number of questions raised regarding Nigeria’s FX reserves, exchange rates, balance of payments and the country's increasing foreign debt. He said the country spends almost 30% of it's scarce foreign exchange on petrol imports, petrochemicals and so on. The central bank chief believes with the operation of Dangote refinery the country will be able to save foreign exchange.

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Nigeria Spends 30% of It's FX on Petrol Imports - CBN Chief

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