The steady fall of the value of the naira means degeneration of the spending power of Nigerians families and companies, which increasingly rely on imported
High inflation and the uncertainty engendered by the duality of the exchange rate means the country’s economy will continue to flounder, experts say. The weak value of the naira also means that the government will have to spend more in repaying its dollar-backed loans.
Economists have argued that a unified exchange rate will help roll back the corrosion of the value of the naira.
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