State governments have been heavily reliant on FAAC distribution to meet recurrent expenditure, thus making no room for capital spending.
States need to create an enabling business environment to attract Foreign Direct Investments.
Despite the CBN's concern about Cryptocurrency in Nigeria, the cryptocurrency space has continued to roll out ingenious solutions to real-world problems.
The recent move has generated diverse views from stakeholders with some critics classifying this action as irrational.
In Q4 2020, the economy surprisingly escaped recession evidenced by the 0.11% y/y rise in GDP.
Although the GDP Q4 2020 showed the economy has slipped out of the recession, the unemployment rate shows the country is still in the woods.
More growth is expected in data and voice subscriptions, as smartphone adoption and covid-19 disruptions persist.
Amid tepid growth, rising inflation and unemployment, the economy sits in a precarious position that requires urgent and strategic efforts.
The demutualization exercise is expected to produce a new non-operating holding company with three operating subsidiaries.
Many analysts worry that taxpayers funds will be going to reward forex earners and many others see the policy as a subtle devaluation.