President Bola Tinubu has urged Nigerians to patronize made in Nigeria goods to increase the market value of the naira against other currencies.
In the past week, naira gained strength of N500 over the dollar, appreciating tremendously.
The naira has been experience terrible market shock as it fell continuously in the past one year, prior to the coming of the President Tinubu government, but had seen the most terrible depreciation in years as it nose-dived in the last 8 months, affecting the value of goods and services in the market.
The recent call to Nigerians by the president, to patronize locally produced products is an economic strategy to boost the strength of the currency. This was emphasized by the Special Adviser on Media and Publicity to the President, Ajuri Ngelale, who appealed to Nigerians to see good in local products.
“One, His Excellency, President Bola Ahmed Tinubu wants to communicate very clearly to our people, that there has never been a more important time in our history to actively agree together.
“That we will patronize and purchase made-in-Nigeria products across all value chains across all sectors,” Ngelale said.
The presidential spokes persons further lists government interventions targeted at ameliorating the hardship in the country.
Ajuri said intervention such as the presidential conditional grant scheme providing 1 million nano enterprises with non-repayable grants up to ₦50,000 and ₦75 billion to 75 large manufacturers employing over 1,000 Nigerians each was factored towards ensuring economy recovery and creating opportunities for Nigerians.
The also emphasized on the restricted travel trip of ministers and high government officials as the right step in the right direction to slash down unnecessary expenses, promote accountability and diligence in governance.
