Abuja, March 22, 2024 – President Bola Tinubu has appealed to Nigerians to intentionally patronise made-in-Nigeria products and services so as to sustain the steady appreciation of the naira.
Tinubu said the appreciation of the naira at the foreign exchange market did not call for celebration yet, but rather, enjoined Nigeria to work harder to sustain the gains.
Ajuri Ngelale, the Presidential Spokesman, delivered President Tinubu’s message during a briefing of State House Correspondent on Friday,
Tinubu, however, charged citizens to blow the whistle, but expose those they see engaging in currency sharp practices.
He said part of the reason for the administration’s efforts to achieve a strong Naira was to achieve ease for the working Nigerian, especially when the new minimum wage comes to effect.
The exchange rate of the Naira to other international currencies had steadily slid into a weak position since the government introduced a policy to float the currency last year, in an attempt to curb currency arbitrage
However, the Naira maintained a steady appreciation against the United States Dollar on Thursday, gaining N18 to close 1,382/$ at the official market. (GBN)
