NIGERIA’s exchange rate problem would most likely persist as the country pays less attention to industrialisation despite being largely an import dependent nation, the ICIR findings have shown.
Last week, the World Bank cautioned Nigeria against its N4 trillion payment on subsidy, in addition to the complications arising from its multiple exchange rate regime.
Nigeria’s Central Bank Governor, Godwin Emefiele, has since responded to the global lending body, saying the Federal Government adopted a management forex float to handle its exchange rate problems.
Exchange rate problems, import dependency thriving as Nigeria pays less attention to industrialisation
