L
LequteMan
Guest
The Nigerian Trade and Investment Minister Okechukwu Enelamah and Central Bank of Nigeria (CBN) Governor, Godwin Emefiele are discussing ways to ensure supplies of foreign exchange to manufacturers in the country as a means to reduce inflation.
Nigeria's inflation rate recently hit a 3 year high, rising to 11% in February according to a recent report released by the NBS.
Dollar is scarce in Nigeria as the plunge in oil prices constricts dollar inflows. This has has seen the naira drop in recent times as importers jostle to get the greenback.
“My minister is engaging with the central bank governor and other key stakeholders to ensure that the interests of manufacturers are taken care of” in the provision of foreign exchange, director of trade at the ministry of industry, trade and investment, Omotara Awobokun, said in a Bloomberg interview.
“I am sure a lot of suggestions and initiatives are on the table,” she said in the commercial capital, Lagos.
She however declined to specify what options are being considered before the government completes its proposals.
Nigeria's inflation rate recently hit a 3 year high, rising to 11% in February according to a recent report released by the NBS.
Dollar is scarce in Nigeria as the plunge in oil prices constricts dollar inflows. This has has seen the naira drop in recent times as importers jostle to get the greenback.
“My minister is engaging with the central bank governor and other key stakeholders to ensure that the interests of manufacturers are taken care of” in the provision of foreign exchange, director of trade at the ministry of industry, trade and investment, Omotara Awobokun, said in a Bloomberg interview.
“I am sure a lot of suggestions and initiatives are on the table,” she said in the commercial capital, Lagos.
She however declined to specify what options are being considered before the government completes its proposals.
