Dollar hits N615, local raw materials sourcing declines to 52%

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Dollar hits N615, local raw materials sourcing declines to 52%

« on: June 29, 2022, 01:03:25 PM »

Dollar hits N615, local raw materials sourcing declines to 52%

The pressure on the foreign exchange market continued on Tuesday, with the dollar exchanging at N615 at the parallel market in Lagos and Abuja. This is even as the percentage of local raw materials sourced by Nigerian manufacturers declined to 52.4 per cent in 2021, from 57.5 per cent obtained in 2020, according to data

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