In other news, Nigeria’s central bank attributed the naira’s depreciation to Nigerians spending USD 40 bln on foreign education and medical tourism over the past decade. This expenditure, along with a decrease in USD supply and increasing demand for foreign services, has contributed to the naira’s volatility. The bank also noted a significant rise in annual imports, from USD 16.65 bln in 1980 to USD 54.71 bln last year, with food imports jumping from USD 2.63 bln in 1980 to USD 14.84 bln in 2019.