Dollarisation of Naira payments and Nigeria’s macroeconomic instability
The Naira has been battered beyond a fraction of what gold did to silver under bimetallism in France.
Isaac Chii Nwaogwugwu is an economist and public intellectual who regularly engages in socio-political, economic and public policy analysis. He has over two decades of experience as a member of editorial board of two major national dailies where he also wrote weekly columns. His highly research-based articles which focus mainly on fiscal, monetary, financial and general macroeconomic issues have been published in many media outlets.
The Naira has been battered beyond a fraction of what gold did to silver under bimetallism in France.
It suffices to start this piece by stating unequivocally that the ‘new dept’ of Nigeria’s economic woes is so frightening...