For Nigeria, a weaker currency– long touted as a catalyst for export growth - hasn’t delivered the expected payoff.
Over the past two decades, the country has devalued the naira multiple times, eroding no small chunk of its value, according to data analysed by BusinessDay. The prevailing view among policymakers has been that a cheaper naira would make Nigerian goods more competitive abroad and spur export activity.
But the results have fallen short. Despite repeated devaluations, available data shows export volumes have seen only marginal
