The Presidency has stated that the recent consistent strengthening of the Naira reflects the positive impact of the efforts and sacrifices made by Nigerians.
Aguri Ngelale, Special Adviser to President Bola Ahmed Tinubu, emphasized this in a recent statement, noting the sustained appreciation of the Naira in the foreign exchange market. The Presidency reiterated its commitment to the multi-pronged strategy implemented by Tinubu’s administration to protect the Naira against currency manipulation, affirming that these efforts will continue.
Furthermore, the government pledged to intensify efforts to reduce inflation, acknowledging the hardships endured by the people and promising rewards for their sacrifices. While acknowledging the progress, the Presidency stressed the need for further work to sustainably lower inflation and ensure fair pricing of goods and services.
This announcement coincided with the Naira’s appreciation to N1230.61 per US dollar on Monday from 1,251 last week, as reported by FMDQ data, and the Central Bank of Nigeria’s distribution of additional funds to Bureau de Change operators at a specified rate.
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