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Vol 65 No 3

Published 1st February 2024


Shock therapy keeps the people waiting

Dollar-rich investors have reacted to President Tinubu's radical reforms by rushing to the door

President Bola Tinubu's great gamble that shock therapy – ending subsidies and devaluing the naira – would bring back foreign capital and stabilise state finances isn't working. Instead, the naira is plumbing new depths against the US dollar each week and a slew of multinational companies are selling their assets.

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