Forex allocations for fuel imports hit record high of $1.25 billion in Nigeria.

The Central Bank of Nigeria has allocated $1.25 billion for fuel imports in the first quarter, as part of efforts to stabilize the nation's energy supply.

The Central Bank of Nigeria has announced that it has allocated a total sum of $1.25 billion for fuel imports into the country, marking a significant increase from previous allocations. This move aims to address the ongoing shortage of petroleum products in Nigeria and ensure steady supply to meet the increasing demand. The allocation is part of the bank's efforts to stabilize the economy and maintain price stability in the face of global market fluctuations. As a result, oil sector operators can now import the necessary fuel and other related items into the country with greater financial certainty.