Buhari Says Nigeria’s Currency Squeeze Is a ‘Temporary Phase’
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Nigerian President Muhammadu Buhari said the foreign-exchange squeeze being faced by Africa’s biggest economy is a “temporary phase” to be overcome when structural problems are addressed.
“It grieves me that so many manufacturing industries in the country today are groaning and frustrated because of lack of foreign exchange to import raw materials and spare parts,” Buhari said Monday at the start of a meeting on the economy in Abuja, the capital. “I believe it’s a temporary phase which we shall try to overcome.”