From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has urged Nigerians to consciously switch to purchasing goods and services that are made in Nigeria in order to maintain the Naira’s improving performance in the foreign exchange markets.
While pointing out that additional work and efforts are needed to sustain the advances made in relation to strengthen the naira, President Tinubu further urged the public to report any instances of manipulation of the currency and blow the whistle to expose individuals engaging in such.
Special Adviser on Media and Publicity, Ajuri Ngelale, who delivered President Tinubu’s message during a briefing of State House correspondents on Friday, further said part of the reason for the administration to achieve a strong Naira is to achieve ease for the working Nigerian, especially when the new minimum wage comes to effect.
In the wake of the government’s decision to float the Naira last year to combat currency slide, the Naira’s exchange rate against international currencies has been on the decline, signalling a weakening position.
Despite this overall trend, there was a notable exception on Thursday as the Naira demonstrated resilience by appreciating steadily against the United States Dollar. It gained N18 to close 1,382/$ at the official market.
“I’m certain that everyone seated here and indeed Nigerians at large have witnessed the seismic shifts that have taken place within the nation’s foreign exchange market over the course of the last several days and the strengthening of the Nigerian Naira against the United States Dollar.
“This is clearly the direction all of us have wanted to head and we are very sober to the fact that this is no time to rest or to clap, this is a time to deepen our efforts to dig in and to work harder, which is why His Excellency President Bola Ahmed Tinubu, has approved a series of interventions to ensure that we see a mass strengthening of the Nigerian Naira against all other global currencies,” he added.