Oil marketers stated that the depreciation of our naira currency against the US dollar might spring up scarcity of petroleum resources. The marketers noted that sourcing for dollars to import the product was becoming increasingly difficult, with most of them turning to the parallel market for foreign exchange.
In a chat with Punch newspaper,the Corporate Affairs Manager, Nipco Plc, an oil marketing firm,stated that, "although the marketers were importing products, the fall in the value of the naira against the dollar was a serious concern."
“The naira has lost so much value against the dollar, particularly at the parallel market. And this, of course, is posing a great concern to importers, not just to oil marketers but to importers generally in the country,” he said.
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