“The CBN governor has assured that the policies of the bank will be evidence-based. Which empirical results support this aggressive move,’’ Mr Uwaleke said.
“The current customs duty exchange rate of N1488.9 per dollar is still too high in the context of the current galloping inflation and difficulties facing businesses and the citizens.”
“The foreign exchange market is evidently under pressure as a result of a number of factors such as surge in monetary expansion in the last one month.”
Economists have urged President Bola Tinubu’s government to adopt innovative policies to boost domestic production.
“Indeed, the bigger threat to monetary policy effectiveness and inflation is the N22 trillion ways and means finances of the CBN.”
“There must be creative support for small businesses to promote economic inclusion and reform the monetary policies to facilitate financial deepening in the economy.”
“We appeal to the National Bureau of Statistics to engage with stakeholders in the maritime sector to ensure a proper capturing of the activities of the sector.”
“Then the domestic currency will be more stable, and the foreign exchange demand triggering inflation will begin to dip,” said one of the experts.
Some industrialists have faulted President Muhammadu Buhari regime’s imposition of N10 per litre excise duty on non-alcoholic beverages production.
It would cost almost the same amount to ship a 40ft container from Shanghai to Lagos according to the Shanghai Containerised Freight Data index.
