Market Forces Can Never Stabilise Naira, Govt Must Intervene

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Nigeria's currency exchanges for close to N1,000 for a dollar and a pound going for around N1,200 months after the Central Bank of Nigeria (CBN) floated the currency.

The former Edo State governor wondered how the manufacturing sector of the nation’s economy would grow when the interest rate is on the high side.

“Even if you are a drug dealer. You would find that those dealing with drugs in Latin America would be more competitive.”While calling for “complete thinking outside the box” to remedy the situation, Senator Oshiomole expressed doubts over the West’s praise of some of the government’s policies.

 

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