Three elements primarily account for Nigerian inflation: scarcity of foreign exchange resulting in high exchange rates; acute food shortage on account of pervasive insecurity in all farming communities and persistent failure of the FG to earn sufficient dollar revenue in order to fund its budgetary obligations. Certainly, none of these can be alleviated by increasing interest rates and taxes.
Expected exchange rate after N1000/$ vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.