FG spent $1.68bn on food imports in nine months – CBN

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Central Bank of Nigeria has said FG spent about $1.68bn on food importation from January to September 2021

The CBN disclosed this in a report on sectoral utilization of foreign exchange for the third quarter of 2021.

According to the CBN, the government spent $163.60m, $197.73m, and $171.05m in January, February and March, respectively, while $156.30m, $135.72m and $213.58m were spent in April May and June, respectively.

The report revealed that $184.69m, 188.88m and 271.59m were spent in July, August and September, respectively.

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The CBN governor said the bank remained committed to supporting eligible firms with foreign exchange to import machinery and equipment.

– Punch

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