Thursday, May 2, 2024



According to Aliko Dangote, the decision to float the naira by President Bola Tinubu's administration in 2023 was the biggest disruption, impacting his company and other businesses. 

Dangote emphasized that the shift allowed market forces to determine the naira's value, affecting many manufacturing enterprises and leading to operational losses due to fluctuations against the US dollar. 

This move caused significant financial setbacks, with notable billionaires like Dangote and Abdulsamad Rabiu experiencing substantial losses. 

Additionally, reports highlighted concerns about Nigeria's rapid depletion of foreign exchange reserves to stabilize the naira, prompting discussions about the central bank's strategies and the country's economic credibility.

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