By: Obinna Chima
Analysts at Renaissance Capital Limited (RenCap) have predicted a further devaluation of naira in order to reflect what they described as the $4.5 billion fall in Nigeria’s forex reserves.
They also ruled out the likelihood of easing monetary policy this year.
In addition, they pointed out that given the revenue constraint facing the country, the Buhari’s government “will continue to wind down some companies’ pioneer status, so they can start paying taxes, and reduce the number of authorities that can grant pioneer status, to slow the awarding of tax exemptions.” Click here for full article
Source: ThisDay Live