Nigeria Naira Devaluation Likely Soon on Oil Price Slump
- Reserves drop seen pushing government to mark down naira in 3Q
- Most respondents expect devaluation of between 10%-15%
This article is for subscribers only.
Sign up to our Next Africa newsletter and follow Bloomberg Africa on Twitter
The Nigerian central bank will be unable to maintain the naira’s value for much longer as a slump in oil prices drains foreign reserves, according to a Bloomberg survey of investors and analysts.