In the News

Are Nigeria's economic reforms failing?

Graham Watson

3rd October 2023

This Reuters clip looks at the reforms associated with President Bola Tinubu have stalled - the relaxation of foreign exchange controls has seen the naira depreciate, a widening of the official and black market exchange rate, with potentially inflationary effects, and the removal of the fuel subsidy hasn't seen fuel prices budge in the last 3 months.

In short, much of the optimism associated with the new President has evaporated, with little in the way of FDI, largely because there's nervousness about being able to get dollars out of country.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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