This week on Drinks and Mics, the standard gang, Ugodre Obi-Chukwu, Tunji Andrews, Arnold Dublin Inexperienced and “Otunba” Dele Akintola gathered over drinks to interrupt down the monetary chaos gripping Nigeria. And belief us, there was loads to unpack.
The Naira has been on a wild experience, shedding worth at an alarming fee, and everybody’s asking the identical query, are overseas portfolio buyers (FPIs) cashing out? Some thinks the indicators are there, pointing to capital flight and speculators making the most of the volatility. However some aren’t so certain, it may simply be FPIs repatriating earnings after the current good points in Nigeria’s fixed-income market.
Then there’s the market meltdown. Shares have been taking a beating, and whereas there are believes buyers are overreacting, we now have a few of our hosts not shopping for the optimism.
However it’s not all doom and gloom. A weaker naira may imply a lift for Nigeria’s exports, excellent news for companies trying to push items overseas. The query is, will this be an actual shift in commerce, or only a non permanent win?
Catch the most recent episode of Drinks and Mics now on Nairametrics TV!
