As candidates begin to campaign for the 2023 general elections, economists have expressed a belief that the naira would further lose its value.

Amongst the economists is the Professor of Economics at the Olabisi Onabanjo University, Ago Iwoye, Ogun State, Sherrifdeen Tella, who warned that should politicians release too much cash into the system, there might be dire consequences for the country.

Tella said, “If it is foreign currency, the economy will be awash with a lot of foreign currencies which on the one hand is good. But on the other hand, it is bad because it will cause a lot of inflation. It will further depreciate the naira because people will start changing the foreign currencies to naira that they can spend, and that will cause a further depreciation of the naira. That will result in a higher level of inflation because of the fact that it will lead to a higher cost of production.”

Read Story: https://newsrand.com/2022/09/30/economists-predict-further-devaluation-of-naira/

That is good news, I will keep my 100 dollars till then..let me tell my wife not to go change the money again make we wait small