President Goodluck promises to make Naira value stronger

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Goodluck Jonathan, Nigerian President on Thursday, few hours ago reassured that his administration would ensure stability in the value of the Naira. This shall be achieved by striving to take away speculative behaviours causing market exchange pressures.

GEJ made this promise in a nationwide New Year broadcast in Abuja, said government would continue to promote policies that ensured economic stability. See excerpts detailed below:

‘‘We will continue to build and maintain a healthy external reserves position and strengthen fiscal buffers.” “We will ensure 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.

Regarding boosting specific enterprise areas in Agriculture, Micro, Small & Medium Scale Enterprises (MSMEs), he mentioned there are instruments meant to enhance the nation’s aggregate supply capacity, reduce poverty, promote job creation and increase the general well being of the people.

‘‘These efforts and other measures being spearheaded by relevant Ministries, Departments and Agencies, are geared to ensure a secure future for Nigeria and create a much more prosperous country, where people live more peaceful and fulfilled lives,’’ he said.

The President also enumerated some of the achievements of his administration in the past four years.

According to him, the federal government has rehabilitated and expanded the nation rail transportation network, and successfully privatised power generation and distribution.

He disclosed that his administration had significantly reformed and increased local participation in the oil and gas industry, and improved nationwide access to potable water from 57 percent in 2010, to 70 percent at present.

‘‘We have also made significant progress in improving access to primary, secondary and tertiary education by building and equipping more schools, including special Almajiri schools, and establishing additional universities to ensure that each state of the nation now has at least one Federal University.

‘‘Our national economy maintained a steady growth rate of close to seven per cent in the past four years and millions of fresh employment opportunities were created for our people as a direct consequence.

‘‘Recently, we launched the Youth Employment in Agriculture Programme (YEAP) and the $100 million dollars Government and Donor Fund for Agriculture Finance in Nigeria (FAFIN) to fast-track the positive transformation of our agricultural sector,’’ Jonathan said.

 

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