1. Petrol prices will remain stable

Refined petrol is Nigeria’s single biggest import. The story of how an oil exporting nation has to import almost all of its refined products is well told.

According to the National Bureau of Statistics, refined petrol imports in the first three months of 2016 amounted to 226bn naira ($1.1bn; £791m) or 15.6% of total imports.

Last month, petrol subsidies were removed and a new price band of 130 naira to 145 naira per litre was recommended by the government.

A black market trader in Lagos, Nigeria - 6 April 2016Image copyrightAFP
Image captionPetrol was in short supply this year until the petrol subsidy was removed last month
This new price assumed an exchange rate of 285 naira to $1, compared to the official rate of 199 naira to $1.

Remarkably, Nigerians took this price rise with no more than a shrug and the attempt by labour unions to force a price reversal with strikes flopped spectacularly.

In the short term, the Central Bank of Nigeria (CBN) is likely to continue to be the main supplier of dollars to the market until foreign investors return.

With one eye on the petrol price, it is likely to kick start the market at a rate that keeps petrol prices stable ie somewhere below 285 naira to $1.

2. Still no imported tomatoes, rice or tooth picks – officially, at least
Read more here:
http://www.105africa.net/business-five-ways-naira-flotation-will-affect-nigerians/

ok, i dey come