CBN PEGS 5 -YEAR FUEL IMPORTATION BILL AT 36.3 BILLION DOLLARS

The Central Bank of Nigeria, CBN, has said that the sum of 119.4 billion dollars was spent on the importation of commodities into the country in five years.

The apex bank also disclosed that of the amount, 36.37 billion dollars was expended on the importation of petroleum products from 2013 to 2017.

The Director in charge of Research in the apex bank, Ganiyu Amao who made this disclosure, also lamented that the huge expenditure had affected the nation’s external reserve and induced the depreciation of the naira.

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