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The decision by the Central Bank of Nigeria to float the naira has been met with mixed reactions from stakeholders.
While some have praised the move as a step towards economic growth and attracting foreign investment, others have expressed concern over the short-term adjustment costs and potential negative impact on inflation and the energy sector.
However, experts in electricity law and fund management have welcomed the decision, stating that it will create a level playing field and boost investor confidence in the power sector.
The government has been urged to eliminate known sources of exchange rate divergence to encourage convergence of rates across markets.
This article was updated 1 month ago
