Business
Experts, Operators Differ On Naira Free Fall
Some Nigerians have be
moaned the sustained free fall of the Naira and its consequence on the proposed national economic rejuvenation.
They told newsmen in Lagos that the depreciation of the Naira was tied to the absence of a defined economic blue print and bureaucrats to manage the economy.
Dr Chijioke Mgbame, a lecturer in the Department of Accountancy, University of Benin, said that the fluctuation of the Naira made it difficult for businesses to make projections.
Mgbame said that the hallmark of any good business plan lay in a stable exchange rate, price stability and business forecast.
The don also said that the fall in a nation’s currency would definitely lead to price hike for import dependent economy.
He expressed disappointment at the orthodox approach being deployed to rescue the Naira from further nose diving.
Dr Evans Osabuohien, an economist in the Department of Economics and Development, Covenant University, Ota, Ogun, said that the recovery of the American economy was mounting pressures on the Naira.
Osabuohien said that the currencies of other African countries such as the Kenyan and Ugandan shillings were also not insulated from experiencing fluctuations in their values.
Mr Silvanus Ibe, an importer of electronics, said that the rise and fall of the Naira was having a serious toll on his business.
“Those of us in the import business are saddled with the responsibility of explaining to our customers the reason behind the rise in the price of our products, before they decide to buy.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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