Concluding in the February write-up, I speculated that one thousand eight hundred naira to the dollar was the equilibrium price around which the naira would stabilise. Later, the usual depreciation resumed, and the naira weakened from its low of N1,100 to N1,735 to the dollar. It remains the same: crude, crude, crude. Urgency of an existential threat: Things are not looking good for crude oil in the coming years of this decade. Buharinomics has propelled the naira from below N200 to the dollar to N2,000 to the dollar, all within nine years.

Source: The Guardian November 26, 2024 08:26 UTC