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The naira tumbled to N1,300/$ at the parallel market on Tuesday.

The naira has depreciated by 38.9 per cent against the United States dollar at the official I&E window of the Central Bank of Nigeria in the past three months.

Six ministries, departments, and agencies have budgeted N244m to cover foreign exchange losses despite increased earnings

Nigeria’s foreign exchange reserves have fallen by $1.6bn to $32.97bn since the CBN tried to unify the country’s foreign exchange rates.

Amid persistent foreign exchange fluctuation, Nigeria's foreign exchange reserves have fallen by $1.6 billion to $32.97 billion since the Central Bank of

Among the 13 States, Akwa- Ibom had the highest earning at (N10.2bn), followed by Jigawa (N7.23bn), Imo (N6.26bn).It was followed by Kogi (N5.92bn), Nasarrawa (N5.75bn), Plateau (N5.65bn), Abia (N5 34bn), Adamawa (5.34bn) Enugu (N5.1bn) and Zamfara (N5.02bn).

By the end of the year’s first half, manufacturers partly blamed fuel subsidy removal for increased job losses, unsold goods on supermarket shelves, and more.

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The government has made a N713.1bn revenue windfall from the devaluation of the naira, an analysis of the government’s earnings has shown.

Governments, at the federal, state, and local levels, and banks, gained about N2.21tn following the exchange rates unification policy of the Central Bank of Nigeria, findings by The PUNCH have shown.