The Real Impact of FX Reforms on Prices, Profits, and Purchasing Power If you have bought anything in Nigeria over the past two years, you have felt it. The price of rice. The cost of fuel. School fees. Imported electronics. Even a bag of cement. Everything went up. And up. And up. The culprit? A massive overhaul of how Nigeria…
Import Substitution in Nigeria: Which Sectors Are Finally Becoming Competitive Nigeria has a spending problem. A big one. For decades, the country has shipped billions of dollars abroad to buy what it could have made at home. Sugar from Brazil. Diesel from Europe. Furniture from China. Even basic things like toothpicks and pencils used to come from somewhere else. That…
$20 Billion Flows Home Every Year. So Why Isn’t Nigeria Getting Richer From It? Here’s a number that should stop every policymaker in Lagos cold. Twenty point nine three billion dollars. That’s how much Nigerians living abroad sent home in 2024. Let me put that in perspective. It’s four times what Nigeria got in foreign direct investment during the same…
