Not Yet Uhuru Maintaining The Moment

THE new government has started with vigour and is demonstra ng the capacity to take the necessary hard decisions which have been long delayed at the detriment of the na on. This is admirable and must con nue.

The decision taken on Wednesday to in effect merge the exchange rate is commendable. Of course, it contains an ele- ment of evalua on which us inevitable.

Mul ple exchange rates of the kind which has now ended was propelled and sustained by corrup on. It never made any economic sense and was destruc ve to the country’s economy and stalled the inflow of desired foreign investments, it was ruinous.

The new alignment will now make the country a more desirable investment des na on and make the economic climate more desirable as well as predictable. A situa on in which airlines had 800 million dollars trapped in Nigeria which is the highest in the world did not portray a country with a ra onal economic management, thank God the nightmare is over.