Punch Newspapers·4 min read·hard
Oil Import FX Demand Jumps 115% Despite Local Production
D
Damilola Aina
✦AI Summary
Nigeria's foreign exchange demand for oil-sector imports surged by nearly 115% in 2025, reaching $4.86 billion. This increase highlights the country's ongoing dependence on imported petroleum products despite domestic refining efforts.
Why it matters
The data underscores significant economic challenges regarding energy security and foreign exchange management in Nigeria.
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