FX crisis: Tinubu begs Nigerians to buy local goods, approves N75bn for manufacturers

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President Bola Tinubu has said the gradual appreciation of the Naira against the Dollar was due to a sustained effort to check forex volatility in the country. The President called on Nigerians to support the initiative by patronising locally produced goods to further strengthen the value of the Naira and reduce hardship in the country.

Tinubu spoke through his Special Adviser on Media and Publicity, Ajuri Ngelale, who addressed journalists at the Presidential Villa, Abuja, on Friday. According to the Presidency, there is already a noticeable measure being taken by the regulatory body to firm up the nation’s currency, which has started to yield results.

'We understand that there’s still going to be volatility to some extent, but we are seeing a lessening impact of that volatility, and as we move forward with the interventions Mr President is making in the foreign exchange market and will continue to make we will see increasing stability. 'The last point we want to emphasize is that President Bola Ahmed Tinubu is dealing decisively with the issue of the spending power of every naira and kobo that Nigerians are earning today.

 

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