Nigeria has relied heavily on crude oil as a major foreign exchange earner, leaving other sectors to suffer, until recent times, foreign direct investment in agriculture has been very poor, even till now the effects are not seen on the foreign exchange.
The country seems to be neck deep in productivity crisis and could not even leverage on the gains in the current Russia/Ukraine war which saw the global price of crude rising.
The Naira is shrinking in value against the Dollar in a rate that is alarming, the backlash on the country’s economy and the common man is evident, inflation rate is on the rise and the effect can be thoroughly felt.
Escalating FOREX and implications on the Nigerian economy will be the focus on the programme this week. Join the conversation from 5:30 PM, Friday, 17th June, 2022.