Posted 1/14/2024, 6:33:34 PM
Financial expert forecasts further naira devaluation, prolonged economic instability if Nigeria doesn't transform economy
- Financial expert Adetilewa Adebajo predicts naira could fall to between N1,500 and N1,800 per dollar by end of 2024 due to forex scarcity
- Adebajo forecasts 18-month economic recovery period with high interest rates and sustained lack of foreign exchange
- Advises Nigerians to hedge against naira devaluation and direct profits into assets with enduring value
- Questions if Nigeria following default path of countries like Ghana, Zambia and Ethiopia
- Former CBN deputy governor Moghalu says transforming economy into productive, export-oriented one is key to stabilizing naira