Exchange rate volatility in Nigeria decreases non-oil exports, impacting economy.
The article examines how changes in exchange rates affect Nigeria's non-oil exports. By analyzing data over 20 years, the researchers found that when the naira's exchange rate is volatile, non-oil exports decrease by 3.65%. On the other hand, when the US dollar's exchange rate is volatile, non-oil exports in Nigeria increase by 5.2%. The study suggests that promoting economic openness and stability in exchange rates could help boost exports in Nigeria.