Shettima Expresses Confidence in Naira’s Appreciation Against Dollar
Written by Deborah Oyinloye on April 20, 2024
Vice President Kashim Shettima has voiced optimism regarding the ongoing appreciation of the nation’s currency, the naira, against the dollar, citing recent improvements in its exchange rate.
As of now, the naira trades at approximately N1,200 to a dollar in the parallel market, marking a positive shift after months of decline against major currencies.
Shettima, speaking to a delegation from the Lagos Chamber of Commerce and Industry (LCCI) during their visit to his office at the Presidential Villa in Abuja, expressed his belief that the trend of naira appreciation will persist.
Reflecting on the recent fluctuations in the currency market, Shettima remarked, “Naira went haywire and some people were celebrating but inwardly we were laughing at them because we knew that we have the leadership to reverse the trend.”
He credited former Lagos State Governor Asiwaju Tinubu for his leadership qualities, stating, “Asiwaju knows the game, and truly the naira is gaining and the difference will drop further.”
Shettima emphasized the government’s commitment to job creation and economic transformation, highlighting President Tinubu’s role in providing a blueprint for Lagos State’s development.
Addressing the delegation, Shettima reassured them of Tinubu’s understanding of their ecosystem, portraying him as an ally and friend to the business community.
Gabriel Idahosa, President of LCCI, presented recommendations to Shettima, including innovative solutions to address the security challenges impacting the economy. These recommendations encompass targeted interventions such as concessional lending facilities and interest rate subsidies tailored to the needs of small and medium enterprises (SMEs) and key sectors like agriculture, manufacturing, and power technology.
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Author: Deborah Oyinloye
With an interest in media, Deborah aims to impart the lives of people positively.
