A number of initiatives by President Bola Tinubu have been revealed to stabilize the value of the national currency.
This was revealed to State House reporters yesterday at the Presidential Villa by presidential spokesperson Ajuri Ngelale.
In order to maintain the naira’s momentum, he claims that Tinubu urges every Nigerian to consciously buy goods produced in Nigeria in all industries.
He added that the government was toughening up on aggressive currency exchange tactics that had previously threatened the value of the naira.
According to Ngelale, Tinubu approved a number of significant financial support measures, such as a presidential conditional grant program that gives over a million nano-enterprises loans of up to N50,000 that they are not required to repay, in order to lessen the burden on families and companies.
Moreover, N150 billion in loans with single-digit interest up to N2 million will be provided to hundreds of thousands of small and medium-sized businesses.
To protect and boost hiring, he indicated that N75 billion would be given to 75 major manufacturers that employ more than 1,000 people per.
“I’m sure that everyone seated here, as well as Nigerians generally, have observed the profound changes that have occurred in the country’s foreign exchange market over the last few days, and the strengthening of the Nigerian Naira against the US dollar,” he remarked.It’s obvious that we’ve all desired to go in this way.
Furthermore, we are acutely aware that now is not the moment for relaxation or applause.
First and foremost, His Excellency, President Bola Ahmed Tinubu, wishes to make it abundantly evident to our people that this is the most crucial moment in our history for us to actively come to an agreement. that we will support and buy items made in Nigeria in every value chain and in every industry,” he declared.