The new found stability of the naira is enabling investors and business owners alike to plan for activities after the currency suffered steep devaluations, Tony Elumelu, a business mogul, has observed.
The naira is gaining, hovering between 1,588 and 1,611 per dollar this month, despite the global uncertainty that has left emerging markets currencies reeling from sweeping tariffs triggered by President Donald Trump.
“The naira is becoming quite stable,” Elumelu, who is the chairman of United Bank for Africa and a member of the Presidential Economic Coordination Council in Nigeria, said at the Qatar Economic Forum Tuesday.