It's naira or never - Nigeria needs decisive action on its currency: Oluseun Onigbinde, Co-Founder, BudgIT

IMF Managing Director Christine Lagarde watches children perform a dance in Abuja during her visit to Nigeria. Photograph: IMF via Getty Images

When Christine Lagarde, the managing director of the International Monetary Fund, visited Nigeria this week, she called for more flexibility on the exchange rate, encouraging those who believe the naira could be devalued again very soon.

Her visit placed an uncomfortable spotlight on the fiscal woes of Africa’s biggest oil producer. Many Nigerians feel we are in a tough corner, and concern is growing over what President Muhammadu Buhari will do to plug the foreign exchange gap, boost revenues and diversify an economy that Lagarde said is too reliant on oil.

Read more: It’s naira or never: Nigeria needs decisive action on its currency | Oluseun Onigbinde | Global development | The Guardian

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