Importation of Petroleum Products Fell to $1.04bn

The Central Bank of Nigeria has said quantity of foreign exchange used for the importation of petroleum products into Nigeria fell to $1.04bn last year from $1.32bn in 2020.

According to data obtained from CBN, the nation’s forex reserves have been on a downward trend in recent months, falling to a low of $39.77bn on February 15, 2022 from $40.54bn at the end of last year.