Petrol: FX Scarcity Stalls Fresh Importation   The hope of fresh petrol importation into the country may have been dashed, as findings revealed that oil marketers, who have been licensed to import fuel, are currently having difficulties accessing forex (FX). Sources close to the matter said that...

Rising Aviation Fuel Price, Forex Scarcity Blamed For Airfares Hike   The high cost of aviation fuel has been a major issue for airlines, constituting a substantial part of their operating costs. FUNMI FABUNMI writes about how exorbitant aviation fuel prices have made affordable airfares elusive The...

Annual UK-study Expenses Now $2.5bn Amid Forex Scarcity   The Governor, Central Bank of Nigeria, Godwin Emefiele, has said annual foreign exchange outflow on study-related to the UK has hit to about $2.5bn as visa applications increased. He also said the official foreign exchange receipt from crude...

Naira Heads To N1,000/$ As Scarcity Worsens     The rate at which the naira, is depreciating against the dollar shows that it could fall to N1,000/$ before the end of next month, traders said Tuesday. According to the traders, this is due to shortage of the greenback,...

FG Spent $11.6m On Armoured Vehicles Amid Forex Scarcity   While the country battled with shortage of foreign exchange, the Federal Government spent $11.56m on remodelling and refurbishing 107 armoured vehicles which were donated by the Hashemite Kingdom of Jordan. The Second Quarter and Half-Year 2022 Budget...

Gas Price Hike Imminent As Forex Scarcity Hits Suppliers   There are indications that gas prices will further rise and Nigerians may pay more as marketers have hinted that the high exchange rate of dollar to naira is having a negative impact on importation. National Operations Controller,...