Oye: Nigeria’s economy in severe strain despite $10.37bn capital inflow

Dele Oye, Chairman of the Alliance for Economic Research and Ethics, stated that Nigeria's economy remains under severe strain despite $10.37 billion in capital inflows. He warned that the dominance of short-term foreign portfolio investment raises concerns about reliance on volatile funds. Oye also noted that the U.S. Federal Reserve's interest rate hike to 3.75-4.00 percent serves as a litmus test for Nigeria's $54.61 billion reserves and FX market.

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