MINISTER OF BUDGET AND ECONOMIC PLANNING SAYS EXCHANGE RATE WILL BE STABILIZED

The Minister of Budget and Economic Planning, Atiku Bagudu, has said he expects the exchange rate to improve following the ongoing exchange reforms of President Bola Tinubu and the Central Bank of Nigeria.

According to him, countries which have liberalised their foreign exchange market like Nigeria have enjoyed better exchange rates, expressing confidence Nigeria foreign exchange market will perfomer better.

He said global indices had shown that things would improve, advising local and foreign investors to take steps in this direction.

His comments came about six months after Tinubu removed rate cap on the exchange rate, among other currency reforms.