Revealed: Why the Naira continues to lose value against the US dollar amid economic woes

By Obinna Ejianya (9News Nigeria - Melbourne, Australia)

t is without any doubt that President Tinubu’s government is committed to implementing economic reforms aimed at improving the lives of Nigerians who are already choking to death by the harsh economic hardship that has hitherto engulfed the country.

These stringent reforms by Tinubu’s government have included measures such as the Central Bank of Nigeria’s reshuffles, stricter policies on banks and Bureau de Change operators, interest rate hikes, financial policies, and the promotion of locally-made products. However, the idea of putting the cart before the horse always leads to going nowhere because it takes the horse to move the cart. The economic situation in the country does not require any gymnastics of political correctness, make-believe packaging, or rhetorical economic jargon, but it requires a common-sense, basic approach, as I have been emphasizing in numerous other publications and media interviews.

It is crucial to prioritize and address certain fundamental issues to achieve meaningful progress. One of these issues is the removal of the fuel subsidy, which continues to haunt, hurt, and hinder the Nigerian economy.

Although there are ostensible claims that the government has [Read more on 9News Nigeria] https://9newsng.com/revealed-why-the-naira-continues-to-lose-value-against-the-us-dollar-amid-economic-woes/

https://9newsng.com/revealed-why-the-naira-continues-to-lose-value-against-the-us-dollar-amid-economic-woes/