Lagos - The naira retreated on Tuesday, heading for its lowest level in two weeks, as importers were said to increase demand for dollars, Punch reports.
The currency declined by 0.2 per cent to N158.25 per dollar in Lagos. The naira has fallen 1.3 per cent this year.
Nigeria relies on imports to cover 70 per cent of its own fuel needs because of inadequate refining capacity, and those shipments into the country are a source of pressure on the naira.
More on Punch