Naira will continue to appreciate against dollar, VP Shettima assures
Vice President Kashim Shettima has expressed optimism that the naira will continue to appreciate against the dollar in the forex market.
Stanley Nkwocha, spokesperson for the vice president said in a statement on Saturday that Mr Shettima stated this at a meeting with officials of the Lagos Chamber of Commerce and Industry (LCCI) at the Presidential Villa, Abuja.
He said President Bola Tinubu ended the fuel subsidy and ensured the unification of the multiple exchange rate because the former arrangement was producing billionaires overnight.
“Naira went haywire and some people were celebrating but inwardly we were laughing at them because we knew that we had the leadership to reverse the trend.
“Asiwaju knows the game, and truly the naira is gaining and the difference will drop further.”
He recalled that the quality of leadership provided by Mr Tinubu as governor of Lagos laid the foundation for the massive development witnessed in the state.
Mr Shettima assured that the Tinubu administration is doing its best to address challenges in the power sector.
According to him, Mr Tinubu’s administration is aware that power is absolutely essential for development.
“We are determined to ensure that we generate jobs for our youth. Honestly, the president’s obsession is to live in a place of glory, to transform this country to a higher pedestal.
“He wants to leave a legacy, one of qualitative leadership, because the hope of the black man, the hope of Africa, rests with Nigeria.
“I want to assure you that President Bola Ahmed Tinubu is one of you. He understands your ecosystem. In this government, you have an ally and a friend.”
Earlier, the president of LCCI, Gabriel Idahosa, emphasised the need for the federal government to consider more innovations to address the insecurity challenge in the country.
He also urged the Tinubu administration to ensure a significant upswing in the pace and scale of alternative policy measures that promote credit access, stimulate investment, and support entrepreneurship.
“This could include targeted interventions such as concessional lending facilities, loan guarantees, and interest rate subsidies tailored to the needs of SMEs and key sectors of the economy like agriculture, manufacturing and power technology.”
(NAN)
