Date: February 18, 2020, 07:09:37 AM
Naira Appreciation: Osinbajo Needs To Teach Buhari His Magic – Ben Murray-Bruce: Metro : Nigerialog.com - Nigeria's Premier Online Forum
I am not sure this is handiwork of the vice president... I think those at CBN has kinda woken up after a deep slumber. They have created policies now that can aid the naira... Consistency is vital now.
Cbn increased dollar supply and is responsible for the improvement. God factor too cannot be overemphazised.
Seriously speaking though, the Naira will only truly appreciate over time firstly because there is also too much Naira in circulation. The prices of things need to stop increasing (which is what is devaluing the Naira more than anything). If prices stop going up, then over a little time, the Naira will at least stop depreciating.What is happening now is that the importers have temporarily gone out of business. They will soon return when they see that dollar supply is back, and then we go back to Egypt.Bottomline is that Naira will only improve when Nigeria starts producing most of what she imports currently. When that will happen is anyone's guess.
amen to that. Do you know we now have imported garri from.India? In ur supermarkets.... I was like wtf??!!!
I was shocked when I watched that thing on NTA..... India garri for Nigeria. So it has to the extent of importing garri...of all things.