Former Deputy Governor of the Central Bank of Nigeria (CBN), Prof Kingsley Moghalu, has said the naira can only be strong again if Nigeria becomes an export-driven economy.
Moghalu made this known on Monday during the 29th edition of the annual Nigerian Economic Summit held in Abuja, the nation’s capital.
“The way to fix the naira has problems is a combination of things. Some of them are short-term, but let me start with the long-term because we’ve been trying to fix the problem of the naira for a long, long time. It’s just been getting worse,” Moghalu said. The political economist, however, lamented that the country has not devised a robust plan to make the naira strong.
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