* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, July 6, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

    Max-Matching Entertainments & Longhua District form partnership for new entertainment complex – Blooloop

    Max-Matching Entertainments and Longhua District Unite to Launch Thrilling New Entertainment Complex

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    EIFO invests $5 million in D3, the Ukraine-focused defence technology venture fund – sUAS News

    EIFO Pledges $5 Million to Supercharge Ukraine-Focused Defense Technology Fund

    New Technology for Water Efficiency and Working with Mexico on Screwworm – AG INFORMATION NETWORK OF THE WEST

    Revolutionary Water Efficiency Technology and Cross-Border Collaboration to Defeat Screwworm

    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

    Max-Matching Entertainments & Longhua District form partnership for new entertainment complex – Blooloop

    Max-Matching Entertainments and Longhua District Unite to Launch Thrilling New Entertainment Complex

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    EIFO invests $5 million in D3, the Ukraine-focused defence technology venture fund – sUAS News

    EIFO Pledges $5 Million to Supercharge Ukraine-Focused Defense Technology Fund

    New Technology for Water Efficiency and Working with Mexico on Screwworm – AG INFORMATION NETWORK OF THE WEST

    Revolutionary Water Efficiency Technology and Cross-Border Collaboration to Defeat Screwworm

    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

FG Says Car, Fuel Other Imports Gulp $46bn Annually

September 27, 2023
in Business
FG Says Car, Fuel Other Imports Gulp $46bn Annually
Share on FacebookShare on Twitter

Tope FasuaTope Fasua

FIRS

FG Says Car, Fuel Imports Gulp $46bn Annually

The Special Adviser to the President on Economic Affairs, Tope Fasua, on Tuesday, urged the Central Bank of Nigeria to reduce the number of bureau de change operators in Nigeria from over 5,000 to about 200.

Fasua, a leading economist and chief executive officer of Global Analytics Consulting, spoke at an economic policy event organised by the Abuja Chamber of Commerce and Industry, with the theme, ‘Unification of foreign exchange and the effect of fuel subsidy removal on the business community’.

The event presented an opportunity for stakeholders and agencies from various sectors to discuss the potential impact, challenges, and opportunities in the unification of forex and subsidy removal, according to the Director of Policy Advocacy Centre, ACCI, Chidiebere Owumere.

He also said that Nigeria spent over $45bn annually importing refined petroleum products, milk, chemicals, and fish, among others.

He said, “I hear things like scarcity of forex. What is scarcity of forex, as if the world owes us any forex. The world does not owe us any forex. The forex you get depends on the trade that you do.

“And if you look at Nigeria’s import and export profile, over 20 items that we import in Nigeria are in the billions of dollar range. Our biggest import, of course, till today, except maybe Dangote kicks in, is fuel including petrol, diesel, etc, which takes about $25bn to $30bn every year.

“Then we have things like cars, which is about $4bn every year; sugar, about $1bn; fish, $1bn; milk, $1bn; wheat, $4bn; chemicals, $3bn; pharmaceuticals, $2bn; and I could continue to reel it down for you.”

Speaking on the way out of the foreign exchange crisis in Nigeria, Fasua stated that it was time to restructure the forex market and its operators.

He said, “We need to do some structural reforms. For example, I believe we should reform the BDCs’ sector, make them stronger. You can’t manage over 5,000 BDCs selling money on the streets, it is not normal.

“If we can do the structural reforms in the BDCs sector and the banks and supervise them well, the CBN with the reserves that we have can incentivise that sector, allowing people to get the money much quicker. And you have to define the illegal market and by then, we will be able to find stability.”

Buttressing his points, while speaking on the sidelines of the event, the presidential adviser said, “We cannot manage 5,000 BDCs, maybe we should be looking at 100 or 200. In the United Kingdom as a tourism destination, they have 145 BDCs the last time I checked. In the UAE they have 130.

“So what are we doing with 5,000 BDCs? You will never be able to supervise them. How many staff would you need to look at their returns and check them? Therefore, you need large and well-established BDCs, as well as banks, to be able to fulfill the needs of the people. And then the government can be able to incentivise that market.”

new month wishes to my love

guest posting services online

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : EconomicConfidential – https://economicconfidential.com/2023/09/car-fuel-imports/?utm_source=rss&utm_medium=rss&utm_campaign=car-fuel-imports

Tags: businessImportsOther
Previous Post

Forex Inflow Hits $10.7bn In Two Months – CBN

Next Post

Credit to Private Sector, Govt Rise by 42.68% to N87.27trn

New book digs into Indigenous cuisine through archaeology, culture, ecology – Gander Newsroom

Unveiling Indigenous Cuisine: Exploring the Rich Tapestry of Archaeology, Culture, and Ecology

July 6, 2025
BANG! James Webb telescope catches stray galaxies in the Bullet Cluster: Space photo of the week – Live Science

BANG! James Webb Telescope Unveils Breathtaking Image of Stray Galaxies in the Bullet Cluster

July 6, 2025
How Do You Teach Computer Science in the A.I. Era? – The New York Times

Unlocking Success: Mastering Computer Science Education in the Age of A.I

July 6, 2025
If you want to be younger looking in 60 days, start practicing these 8 daily habits – VegOut

If you want to be younger looking in 60 days, start practicing these 8 daily habits – VegOut

July 6, 2025
Real Madrid vs Borussia Dortmund 3-2: FIFA Club World Cup – as it happened – Al Jazeera

Real Madrid vs Borussia Dortmund 3-2: FIFA Club World Cup – as it happened – Al Jazeera

July 6, 2025

Israel’s economy can’t survive a long war with Iran – and Trump knows it – Middle East Eye

July 6, 2025
The long-term health risks as extreme heat becomes a new normal – PBS

Uncovering the Silent, Long-Term Health Risks of Life in Extreme Heat

July 6, 2025
Trump Says He Will Start Talks With China on TikTok Deal – The New York Times

Trump Says He Will Start Talks With China on TikTok Deal – The New York Times

July 6, 2025
EIFO invests $5 million in D3, the Ukraine-focused defence technology venture fund – sUAS News

EIFO Pledges $5 Million to Supercharge Ukraine-Focused Defense Technology Fund

July 6, 2025
Winning sports’ woke war is great, but unfortunately it’s led by the absurd – New York Post

The Thrilling Battle for Sports Culture Is Fueled by the Absurd

July 6, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (707)
  • Economy (732)
  • Entertainment (21,621)
  • General (15,739)
  • Health (9,770)
  • Lifestyle (737)
  • News (22,149)
  • People (733)
  • Politics (741)
  • Science (15,949)
  • Sports (21,231)
  • Technology (15,716)
  • World (713)

Recent News

New book digs into Indigenous cuisine through archaeology, culture, ecology – Gander Newsroom

Unveiling Indigenous Cuisine: Exploring the Rich Tapestry of Archaeology, Culture, and Ecology

July 6, 2025
BANG! James Webb telescope catches stray galaxies in the Bullet Cluster: Space photo of the week – Live Science

BANG! James Webb Telescope Unveils Breathtaking Image of Stray Galaxies in the Bullet Cluster

July 6, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version