The Naira has remained under huge pressure against the greenback owing mainly to the import-dependent structure of the Nigerian economy. While Agriculture, Mining and Oil & Gas sectors attract the largest share of dollar inflows, other sectors such as Aviation remain import driven as the absence of an MRO facility in Nigeria continues to cost the country billions of dollars annually.
The Federal Airports Authority of Nigeria (FAAN) at its National Aviation Conference in Abuja on Tuesday, announced that Nigeria spent US$2.5bn (about N1.04tn at the official exchange rate of…
Source: Nairametrics
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