Nigeria: Govt Decries $9 Billion Forex Leakage Through Vehicle Imports

22 October 2019

The Federal Government has decried the $9 billion spent annually on importation of about 400,000 vehicles into the country.

Speaking separately yesterday at an automotive event held in Abuja, the Minister of Trade and Investment, Richard Adeniyi Adebayo, and the Attorney General of the Federation and Minister of Justice, Abubakar Malami, said the huge Foreign Exchange (Forex) leakage affected the economy negatively.

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