ACCESS TO DOLLARS REMAINS MAJOR HURDLE FOR IMPORTERS – CLEA BOSS

The Chief Executive of the Consolidated Land and Environmental Association (CLEA), Mr. Chinedu Okoro, has identified persistent challenges in accessing foreign exchange as the biggest obstacle facing importers in Nigeria.

Speaking at a business forum in Lagos, Okoro highlighted how dollar scarcity continues to disrupt supply chains, increase costs, and force many businesses to scale down operations or source goods through unofficial channels. “Despite recent improvements in the FX market, access to dollars at official rates remains a major hurdle for legitimate importers,” he said.

He called on the Central Bank of Nigeria (CBN) to further streamline allocation processes and ensure greater transparency in the foreign exchange market. The CLEA boss also urged the government to support local manufacturing to reduce dependence on imports.

Importers and manufacturers have echoed these concerns, noting that high exchange rates and delays in FX availability continue to fuel inflation and affect the cost of goods.

Stakeholders believe that sustained policy interventions and increased forex supply from non-oil exports could ease the pressure on importers in the coming months.