How much longer can the Central Bank of Nigeria (CBN) pump dollars into the Forex market for negligible results  before the impact on foreign reserves becomes too negative to continue?

This is the key question facing the economy of the country currently.

At best the CBN is propping up the Naira against the economic fundamentals facing the country. It's actions are certainly not bringing the value of the Naira towards N200 per USD.

With WTI crude oil prices low and going lower, this strategy looks unsustainable and is achieving little in terms of strengthening the Naira.

http://nairainsider.com/forex-insider/cbn-dumps-another-195m-forex-market/

p1610:
How much longer can the Central Bank of Nigeria (CBN) pump dollars into the Forex market for negligible results  before the impact on foreign reserves becomes too negative to continue?

This is the key question facing the economy of the country currently.

At best the CBN is propping up the Naira against the economic fundamentals facing the country. It's actions are certainly not bringing the value of the Naira towards N200 per USD.

With WTI crude oil prices low and going lower, this strategy looks unsustainable and is achieving little in terms of strengthening the Naira.

http://nairainsider.com/forex-insider/cbn-dumps-another-195m-forex-market/

There is no govt that doesn't pump dollars into forex, the fact that this govt always makes its own public doesn't make it different.
Except if you are trying to give the impression that during previous administration, importers don't have access to the dollars, there were no PTA, students don't pay school fees abroad.
Besides, the govt offsets its domestic financial obligations in Naira while the bulk of its earnings is in dollars, or are you expecting payments in dollars? Was the budget made in dollars? Are salaries paid in dollars? Where do you expect the govt to get the naira from?
Even if $1 is N1 today, the govt must still change its dollars through forex to settle its local financial requirements.