Why Has the Subsidy Removal Policy Failed?
At the moment, there seems to be a consensus among intellectuals and institutional bodies like the IMF and the World Bank on the potential positive impact of the removal of subsidy on the…
Nigeria: A Frail Giant?
Since President Muhammadu Buhari's re-election in 2019, the country has faced a myriad of social and economic challenges. Inflation had surged from 11.40% in May 2019 to 17.33% last month; the Naira has…
Implication of the Forex Ban on Food Items
With 84% of Nigeria’s export (as at Q2’2020) as oil products, we reiterate that Nigeria does not really have an import problem. Nigeria has an export problem and until that problem is solved,…
Nigeria’s Double Whammy of Inflation and Unemployment Increases
Persistent rise in the general price of goods within an economy is acclaimed inflation. Increasing prices could signal consumption spending by economic agents within the economy, however persistent rise makes fixed income earners…
Towards a Unified Foreign Exchange Rate System in Nigeria
In a bid to increase access to Forex, the CBN created the I&E FX (Investors and Exporters Forex Window) in 2017 for importers in order to ease the pressure faced by the businessmen…
The Economics of Printing the Naira
This article explains why the idea of printing more money is unfounded given the state of the Nigerian economy.
FOREIGN EXCHANGE RESTRICTION: BEFORE YOU CRITICIZE THE CBN.
Foreign exchange is the exchange of one currency for another, or the conversion of one currency into another currency. It also refers to the global market where currencies are traded virtually around-the-clock. The…