Can Nigeria fix its dollar shortage?

Published: Oct. 20, 2023, 1 a.m.

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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 \\u2013 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\\u2019s current government. \\n \\nWhen 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?\\n \\nFor today\\u2019s Africa Daily, Peter Musembi speaks to BBC Africa\\u2019s business correspondent Nkechi Ogbonna in Lagos.

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