Nigerian leader assures investors of stability of local currency
Nigerian President Goodluck Jonathan has assured and international investors that the federal government will continue to ensure stability in the value of the naira by striving to take away speculative actions that cause market exchange pressures.Nigeria’s Thisday newspaper report on Wednesday said that President Jonathan also assured Nigerians that the federal government would continue to build and maintain a healthy external reserves position and strengthen fiscal buffers.
The president added that in 2015, his administration would continue to lay the foundation for a vibrant economy that attracts significant foreign direct investment as well as to promote policies that ensure economic stability.
“We will ensure that the naira remains strong, and gives foreign investors the clarity and certainty that they need, to guide future investment decisions.
“We will continue to improve our payment systems and strengthen risk-based supervision mechanism for Nigerian banks to ensure overall health and stability of the banking system,” he said.
He also disclosed plans by the federal government to introduce a broad spectrum of financial instruments to boost sector-specific enterprise areas in agriculture, micro, small and medium scale enterprises (MSMEs), manufacturing, and oil and gas.
These, according to him, would enhance “our aggregate supply capacity, reduce poverty, promote job creation and increase the general well-being of our people.”
The president added that in 2015, his administration would continue to lay the foundation for a vibrant economy that attracts significant foreign direct investment as well as to promote policies that ensure economic stability.
“We will ensure that the naira remains strong, and gives foreign investors the clarity and certainty that they need, to guide future investment decisions.
“We will continue to improve our payment systems and strengthen risk-based supervision mechanism for Nigerian banks to ensure overall health and stability of the banking system,” he said.
He also disclosed plans by the federal government to introduce a broad spectrum of financial instruments to boost sector-specific enterprise areas in agriculture, micro, small and medium scale enterprises (MSMEs), manufacturing, and oil and gas.
These, according to him, would enhance “our aggregate supply capacity, reduce poverty, promote job creation and increase the general well-being of our people.”
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