Tinubu to Nigerians: Buy home-made goods to sustain stronger naira

yesterday came a plea to Nigerians to deliberately patronise home-made goods and services with a view to sustaining the current positive showing of the Naira at the foreign exchange market.

The Naira has appreciated at the foreign exchange market over the last few days, gaining N18 to close at 1,382/$ at the official market on Thursday. Continuing, he said: “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. Ngelale also said the federal government hoped to save N5 billion quarterly through the imposition of a three-month ban on all foreign trips funded by public money for ministers, heads of government agencies, and other officials.

“The effects are huge and the President is taking a multi-sectoral and comprehensive approach to ensuring that we bring prudence to government expenditure at a time when we are restructuring the economy of the Federation in such a way that sectors that are employing our people, that are empowering our people are those sectors that will be able to more easily access lending both commercially and from public sector sources.

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