Finance visionary Dr Dominic Joshua unveils holistic strategy to uplift naira

With the value of the Nigerian naira plummeting to ?1,520.123 against the US dollar in the black market, renowned entrepreneur, finance expert, and owner of a top fintech company Dominic Joshua steps up with a detailed plan to bring the economy back into balance.In the wake of increasing devaluation, Joshua offers his many perspectives on strengthening the naira against the unwavering U.S. dollar.Within a day, there was a sharp decline from ?1,482.75 to ?1,520.123, which sent shockwaves through the financial world. Tuesday's critical event, in which the official exchange rate surpassed its counterpart on the black market following COVID-19, is ascribed to President Bola Tinubu's economic measures. The removal of gasoline subsidies, currency floating, and the consolidation of foreign exchange windows into the Nigerian Autonomous Foreign Exchange Market (NAFEM) are a few of them. A stark report from PwC reveals a jaw-dropping 98% depreciation in the naira's value, shedding light on the economic consequences of recent governmental decisions. Despite efforts to augment foreign exchange liquidity, such as a $3.3 billion emergency loan secured by the Nigerian National Petroleum Company Limited, the naira's free fall persists.