Unification of FX Markets – A Long overdue Exercise
Following the swearing-in of the President-Elect, Asiwaju Bola Ahmed Tinubu,
two major long overdue policies have come to the fore. The first being the
removal of fuel subsidy which has already taken effect and the second
being the unification of exchange rates across FX markets. The removal of
subsidy has seen the price of Petro Motor Spirit (PMS) spike from NGN185/L
to around NGN490/L.
Exchange Rate Unification & Currency Devaluation – A Long Overdue Exercise
