Nigeria is in talks for up to USD 1.5 bln in funding from the World Bank to address its significant USD shortage. President Tinubu’s administration has implemented reforms like scrapping fuel subsidies and adjusting exchange-rate policies. These reforms have led to a spike in living costs, with inflation reaching a 27-year high and a significant devaluation of the naira. The scarcity of USD in the domestic market has resulted in a backlog of demand from companies seeking to convert naira to US dollars for international transactions.