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Can Nigeria fix its dollar shortage?
In 2015 the price of crude oil fell and since then Nigeria has struggled with a shortage of foreign currency- dollars.
It led the previous government to place restrictions on who could access dollars through the official markets – including banning the use of foreign exchange for the importation of 43 items including rice, cooking oil, tooth picks, and cement.
That ban has now been lifted as part of a series of reforms introduced by Nigeria’s current government.
When President Bola Tinubu came to power in May this year he criticised the past policies of the central bank and accused it of mismanaging the foreign exchange crisis. But can his policies improve the situation?
For today’s Africa Daily, Peter Musembi speaks to BBC Africa’s business correspondent Nkechi Ogbonna in Lagos.
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By BBC World Service
4.8
170170 ratings
In 2015 the price of crude oil fell and since then Nigeria has struggled with a shortage of foreign currency- dollars.
It led the previous government to place restrictions on who could access dollars through the official markets – including banning the use of foreign exchange for the importation of 43 items including rice, cooking oil, tooth picks, and cement.
That ban has now been lifted as part of a series of reforms introduced by Nigeria’s current government.
When President Bola Tinubu came to power in May this year he criticised the past policies of the central bank and accused it of mismanaging the foreign exchange crisis. But can his policies improve the situation?
For today’s Africa Daily, Peter Musembi speaks to BBC Africa’s business correspondent Nkechi Ogbonna in Lagos.
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