The Presidency has responded to concerns and speculations regarding the value of the Naira, assuring Nigerians that President Bola Ahmed Tinubu’s administration is working on economic policies to strengthen the national currency.
During a lecture and lunch event in Abuja, the Special Adviser to the President on Economic Matters, Tope Fasua, conveyed the government’s commitment to implementing policies that will bolster the Naira’s value. Fasua, who represented Vice President Kashim Shettima at the event, cited recent improvements in the Naira’s value and indicated that this upward trend is expected to continue due to government policies.
He also issued a warning to those who are hoarding foreign currencies in the hope that the Naira’s value will continue to decline. Fasua suggested that they should anticipate a surprise, as the government is taking steps to counter such speculations.
Fasua said, “For those who are speculating and praying and wishing that the currency would become worthless, I believe that the policies being rolled out by the central bank and the government that I serve, led by the President, will shock some of them.”
He emphasized President Tinubu’s forward-thinking approach and his ambitious economic goals, including targeting a trillion-dollar economy by 2026. Fasua mentioned that the Naira has already shown signs of strengthening and suggested that further improvements could be expected.
The presidential aide also discussed plans for tectonic reorganization within the banking sector to enhance the Naira’s stability and strength. He highlighted the need for strategic currency positioning to support exports and assured that efforts from the fiscal side are in progress.
Fasua concluded by expressing confidence in the team running the economy and called on detractors to be cautious. The government aims to instill confidence in the Naira and ensure its resilience in the face of economic challenges.