The presidency has expressed confidence that the Naira will witness a significant boost by the first quarter of 2025, thanks to recent interventions in the foreign exchange market and the full resumption of operations by the refineries.
Speaking to state house correspondents on Thursday, April 11, the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, highlighted the government’s concerted efforts to strengthen the Naira in currency markets.
Ngelale stated, “The President has consistently emphasized that the sacrifices made by our people over the past 10 months will yield positive results. The government’s comprehensive approach to cleansing the foreign exchange market of illicit practices has laid the groundwork for the sustainable appreciation of our national currency against global currencies.”
He continued, “However, there is still much to be done, and this is not a time for complacency. It is imperative to intensify efforts to ensure that inflation is significantly reduced and that regulatory agencies enforce consumer protection measures to prevent exploitation of consumers by entities that do not reflect prevailing exchange rates in their pricing strategies.”
