Categories: Top Stories

Presidency Projects Stronger Naira Actualization By Q1 2025

Ajuri Ngelale made the projection in a brief to State House Correspondents in Abuja on Thursday.

Advertisement
Advertisement

Presidency has projected stronger Naira actualization by Q1 2025.

 

NewsOnline Nigeria reports that the Special Adviser to the President on Media and Publicity, Ajuri Ngelale has stated that with the successes recorded by President Bola Tinubu administration’s intervention in the foreign exchange market and resumption of full operations by the refineries, a stronger Naira should be achieved by the first quarter of 2025.

 

This Nigeria news platform understands that Ajuri Ngelale made the projection in a brief to State House Correspondents in Abuja on Thursday.

 

ALSO: President Tinubu Billed To Declare 2024 National Judicial Summit Open

 

According to him, the policy revitalisation in the foreign exchange market is aimed at strengthening the Naira in currency markets.

 

Ngelale, however, noted that the recent successes in the foreign exchange market are not enough for the nation to rest the policies and other efforts to strengthen the Naira.

He further noted with the various refineries, public and privately owned, resuming full operations and capacity between now and the first quarter of 2025, the position of the Naira should become stronger and reflect on the prices of market commodities.

 

“The President has been very consistent in his view that the labour pains felt by our people and the incredible sacrifices made by our people over the past 10 months would be rewarded across the board.

 

“The President’s multi-faceted approach to ridding the nation’s foreign exchange market of malign actors and sharp practices have provided a platform for the sustainable strengthening of our national currency against all global currencies and this is what we are seeing.

 

“But there is still much work to be done and this is not a time for celebration. It is a time for doubling down and working harder to ensure that inflation is sustainably brought down in short order and that consumer-protecting regulatory agencies step up enforcement to ensure that our people are not short-changed by enterprises that fail to reflect the prevailing exchange rates on the pricing of goods and services across the board.

 

“As our private and publicly-owned refineries resume operations between now and the first quarter of 2025, the nation’s cash position will dramatically improve to the extent that Nigerians can rightly expect a stronger Naira and a fair reflection of its strength in the prices of commodities in the market place.

 

“Once you join the rising spending power of Africa’s population with the historic availability of trillions of naira for consumer credit that will bolster the real sector, you will see why Nigerians will be most pleased that they elected a financial engineer and businessman as president by the end of his first term in office, even as the signs are increasingly more evident today,” he said.

Advertisement
NewsOnline Nigeria

Recent Posts

  • Economy And Business

BREAKING: Petrol Marketers Predict Further Major Drop In Fuel Price

Petrol Marketers have predicted a further major drop in fuel prices from today across Nigeria.…

58 minutes ago
  • Crime Watch

FG Moves To Arraign Terrorists Linked To Bello Turji Group

FG has moved to arraign all the suspected terrorists linked to the Bello Turji group.…

1 hour ago
  • Headline

BREAKING: FG Declares 3 Days Public Holiday For Christmas, New Year Celebrations

FG has declared 3 days of Public Holiday for Christmas and New Year Celebrations in…

1 hour ago
  • Featured

Open Heaven 23 December 2024 RCCG Daily Devotional

Open Heaven 23 December 2024 RCCG Daily Devotional can be accessed below.   NewsOnline Nigeria…

1 hour ago
  • Exchange Rates

Black Market Dollar To Naira Exchange Rate In Lagos, FCT, 23 December 2024

Black Market Dollar To Naira Exchange Rate in Lagos and FCT today, 23rd December 2024.…

1 hour ago
  • Economy And Business

BREAKING: PDP Knocks President Tinubu Over Deadly Stampede For Food

PDP has knocked President Tinubu over a deadly stampede for food across states and FCT…

14 hours ago