Competing for global customers—Keeping the naira stable

    Opinion | Sep 17, 2024    
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The stability of the naira is crucial for Nigeria's economic growth. A stable currency gives businesses the confidence to plan, helps investors feel secure, and keeps the prices of goods and services predictable. Drawing from Adam Smith’s principles on the wealth of nations, a country’s wealth comes from its ability to produce and sell valuable goods, allowing it to create the needed capital to invest in its future, as well as funds needed for the purchase of imports. For Nigeria, the key to stability lies in embracing this approach and leveraging our current position of being a poor nation.

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