Stronger Naira: Tinubu tasks Nigerians to buy made-in-Nigeria goods, services to sustain gains

To sustain the unfolding positive showings of the Naira at the foreign exchange markets, President Bola Tinubu has appealed to Nigerians to intentionally turn to patronizing made-in-Nigeria products and services.

However, the Naira maintained a steady appreciation against the United States Dollar on Thursday, gaining N18 to close 1,382/$ at the official market. “There is an intentionality that we must have on this issue that we want a strong currency, we want the spending power of our people to go up. We want every Naira and kobo we earn to be more valuable, not just here, but when we travel abroad, the way to achieve that is by doing just this.

“He is also ensuring that we bring a sustainable strength to the currency so that when we talk about a new minimum wage because many of our people have asked, you know government officials about when the new minimum wage is coming in, those negotiations are ongoing. But what we do not want is a situation in which the minimum wage continues to be what it has always been in the history of our country, which is a moving goalpost.

“So the President is doing everything he can to ensure that he steps in to ease the burden on families while also ensuring that he holds the public sector and the federal government of Nigeria accountable to prudent spending, ensuring that we cut down drastically on travel expenditures, ensuring that with the temporary ban that is being put in place from April 1 on all but unnecessary foreign travel, we’re expecting to save over N5 billion per quarter.

To complement the recovery programme of the administration, Ngelale recalled the various measures introduced by the President to ease the pains of the current harsh economic realities, saying the programmes are about going live.

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