“People are suffering, there’s hunger in the land.” That line captured the mood on this week’s Drinks and Mics episode as the crew welcomed a new guest, Gbenga Sholotan, Head of Special Assets Management at African Finance Corporation (AFC) shared his thoughts on how currency stability, global trade, and local realities jointly influence Nigeria’s economy.
Ugodre opened the discussion by asking the most important question, “what does a stronger naira mean for the average Nigerian”?
He emphasized the need to translate economic numbers into realities that people experience in their daily lives.
Sholotan brought energy to the conversation, pointing out that the naira seems to be stable around N1,500 to the dollar for now, based on Nigeria’s inflation, the U.S. CPI, and other macro indicators.
He further emphasized that this stability will only hold if government reforms are sustained.
The panel also went on to explain the rising trade surplus, noting that the Second Quarter (Q2) trade numbers topped N7.4 trillion, with exports outpacing imports and crude oil still dominating Nigeria’s export basket.
However, they cautioned that the sustainability of this trend depends on factors such as refining capacity, import substitution, and how much of the surplus is driven by currency shifts rather than structural improvements.
The key, they argued, is for policymakers to dig deeper into the data and channel reforms in a way that ensures consistent trade gains rather than short-term spikes.
Tune in to this week’s episode of Drinks and Mics and join the discussion on what stability really means for Nigerians today.
