A Central Bank of Nigeria study has revealed that Nigeria’s economy is more vulnerable to global economic shocks than South Africa’s. The research, presented by Victor Ugbem Oboh, director of the CBN’s monetary policy department, indicates that Nigeria experiences sharper currency depreciation and higher inflationary pressure from external disruptions. The findings underscore the critical need for Nigeria to deepen its financial markets, strengthen economic buffers, and implement structural reforms beyond simple interest-rate adjustments to better absorb global volatility.