In a recent briefing to State House Correspondents in Abuja, Special Adviser to the President on Media and Publicity, Ajuri Ngelale, projected a stronger Naira by the first quarter of 2025.
Ngelale attributed this optimism to President Tinubu’s interventions in the foreign exchange market and the full resumption of operations by refineries.
Ngelale emphasized that while progress has been made in stabilizing the foreign exchange market, more efforts are needed to further strengthen the Naira. He highlighted the importance of policies aimed at sustaining this progress and ensuring fair pricing of goods and services.
The anticipated revival of both public and privately-owned refineries is expected to significantly improve the nation’s cash position, thereby contributing to a stronger Naira and more favorable commodity prices in the market. President Tinubu’s administration is committed to continuing efforts to tackle inflation and enhance consumer protection measures.
With Africa’s growing spending power and the availability of substantial consumer credit, there is optimism that President Tinubu’s leadership will yield positive economic outcomes by the end of his first term in office.
