I had argued for a single exchange rate. But I did not think these guys would go down the old abandoned route of market-driven exchange rate regime. Why on earth would anyone let the market supply and demand determine the exchange rate for an economy that is heavily import dependent.
Rough days lay ahead unless we respond by increasing local production. But how can we respond when electricity generation and supply suffer from involuntary spasms?
At least in the near term, Wahala dey o.
Babs Sobanjo
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