Experts explain why the naira is not N1,000/$1 or better despite stronger reserves, increased oil earnings

Despite Nigeria's stronger oil earnings and increased foreign exchange reserves, the naira has remained above N1,300 to the dollar, prompting questions about the exchange rate's resilience. Experts explain that higher dollar inflows have not translated into a significantly stronger currency due to structural factors and market dynamics. The analysis highlights the complexities of Nigeria's foreign exchange market and the limitations of reserve accumulation in influencing the naira's value.

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