Columns

A Toast To N700 To a Dollar By Year End, By Uddin Ifeanyi

Accordingly, she factors in a 23 percent movement (down) on the naira’s current exchange rate, which should see the currency close the year at about US$1:N650. Add other risk premiums, including a large one for left-handed monetary policy management and the naira could end the year at circa US$1:N700. The…
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Opinion

A Flexible Exchange Rate Policy Is Still Right, By Olu Akanmu

The flexible exchange rate policy is therefore still right even when its salutary effects are yet to come through strongly in the short term. Staying with the abandoned fixed exchange rate policy could have been worse. There is an emerging debate that since the Nigerian government buckled to float the…
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Opinion

Economic Pragmatism: Government Must Let the Markets Work, By Olu Akanmu

...a fiscally constrained government, such as we have, cannot afford to distort markets in area where they are potentially efficient and create inefficiencies by its commission or omission. The social cost of such market distortions is high on society, the economy and general public Buhari embrace real economic pragmatism and…
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Columns

Nigeria: Inflation, Monetary Policy, and Poverty, By Uddin Ifeanyi

So, truth to tell, there may be a case for the CBN continuing to ignore rising domestic prices. But it is a case that the apex bank has so sordidly failed to make. At least, so far! S&P put this succinctly: “Nigeria’s monetary policy has also weakened the country’s credit…
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Article of Faith

True Believers Cannot Be Affected By the Devaluation of the Naira, By Femi Aribisala

The Lord our God is a stronghold to the needy in his distress, a shelter from the storm and a shade from the heat. The devaluation of the naira is the talk of the town. It is on everyone’s lips. From 200 to the dollar, the naira dropped as low…
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Columns

Interrupting The Naira’s Winter Migration, By Uddin Ifeanyi

...to argue against the market because of a set of arbitrary developments (in all likelihood a one-off intervention on Wednesday that saw more dollars introduced into the market than has been the quotidian trend since the year began) is to substitute a subjective randomness for a more objective one. In…
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Opinion

Explaining Ongoing Naira Volatility, By ‘Tope Fasua

The people need good information if the government wants to manage the forex rate. Information – bad information – drove the naira down recently. Good information can win it back. This information does not have to be accurate. Just enough information to get the people behind government’s vision for the…
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Opinion

Nigeria: Beyond Protectionism and Import Substitution, By Seun Kolade

An export-oriented economy is more ambitious and sustainable in the long term. It is, yes, more challenging, as it requires especially high levels of specialised human capital to drive innovation and change, as well as a high level of physical capital, especially in terms of energy and transportation/communication infrastructures. Yet…
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