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Nigeria lacks macroeconomic framework to attract foreign direct investments – US
The U.S Government has said that Nigeria lacks the macroeconomic framework to address its challenges of foreign exchange instability
The US Deputy Secretary of Treasury, Wally Adeyemo disclosed this at a recent forum with business leaders in Lagos State
According to him, there is no quick & easy solution to the country’s economic challenges. However he said he is optimistic that the country would attract foreign investments with improved fiscal policies, in addition to recent policies.
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“There is no quick, easy solution to those challenges; I want to be honest. That is what true partners are. Nigeria lacks a macroeconomic framework that will help bring more foreign direct investments including dollar-based foreign investments
The early steps the government has taken are good regarding what they have done (fiscal policy) & what they are trying to do with unifying the exchange rates. More needs to be done, & they recognise that
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