Dr. Austin Nweze of the Pan-Atlantic University has called for a restructuring of the forex market policy, days after the apex bank introduced a more flexible policy.
He stated that if the market was liberalised it would be operated properly which is what the concept of demand and supply is all about.
Speaking as a guest on Sunrise Daily, Dr. Nweze noted that if the productive capacity of Nigeria’s economy was producing what Nigerians consume, the interest rate, foreign exchange and inflation would not be a problem.
He also explained that all ministries and government agencies were not properly synchronised, a situation he said was affecting the policies.
Dr. Nweze further pointed out that the Buhari-led government was trying to synchronise the ministries.
He urged Nigerians to look at the big picture and have one focus to be able to achieve so much.
Dr. Nweze is of the opinion that to liberalise the market all forms of monopoly has to be removed.
