Naira will continue to appreciate at forex market, Shettima assures

“Naira went haywire and some people were celebrating but inwardly we were laughing at them because we knew that we have the leadership to reverse the trend…”

Nigerian Vice President, Kashim Shettima, has expressed optimism about the performance of the Naira at the forex market, assuring Nigerians that the country’s currency will appreciate more as the dollar continues to crash. 

He stated this when a delegation from the Lagos Chamber of Commerce and Industry (LCCI) led by its President, Gabriel Idahosa, paid him a courtesy visit at the Presidential Villa, Abuja.

According to a statement on Saturday by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, the VP noted the Tinubu administration’s decision to end fuel subsidy and unify the multiple exchange rate was necessary to address the challenges facing the country. 

Noting the dollar will further crash against the Naira, the Vice President said: “Naira went haywire and some people were celebrating but inwardly we were laughing at them because we knew that we have the leadership to reverse the trend. Asiwaju knows the game, and truly the naira is gaining and the difference will drop further”.

Shettima recalled the quality of leadership provided by President Tinubu as Lagos Governor laid the foundation for the massive development witnessed in the State, adding: “We will always thank President Tinubu for providing the blueprint for the development of Lagos that we are seeing today”.

He also assured the administration is working to address challenges in the power sector and generate jobs for youths.

 “We are determined to ensure that we generate jobs for our youths. Honestly, the President’s obsession is to live in a place of glory, to transform this country to a higher pedestal. He wants to leave a legacy, one of qualitative leadership because the hope of the black man, the hope of Africa rests with Nigeria.

“I want to assure you that President Bola Ahmed Tinubu is one of you. He understands your ecosystem. In this government, you have an ally and a friend,” Shettima further noted.

The LCCI delegation presented recommendations to the VP, including the need for more innovations to address insecurity and promote credit access, stimulate investment, and support entrepreneurship.

“This could include targeted interventions such as concessional lending facilities, loan guarantees, and interest rate subsidies tailored to the needs of SMEs and key sectors of the economy like agriculture, manufacturing, and power technology,” he added.

Other members of the LCCI on the delegation included Chief John Odeyemi, Chief Dr. Nike Akande, Asiwaju (Dr.) M. Olawale –Cole, Prince Funayo Okeowo, Gwueke   Ajaifa, Sir Ladi Smith, Abimbola Ola, Olufemi Bakare, Ayotunde Coker, Tolulope Adeleke,  Stephen Alangbo, Dr Chinyere Almona and Mrs Temitope Akintunde.

In a separate meeting, VP Shettima urged Nigerians to live peacefully among themselves and learn to accommodate each other. 

He made this appeal when a delegation from the Association of National Accountants of Nigeria (ANAN) led by its President, Dr. James Neminebor, paid him a visit at the Presidential Villa, Abuja.

He emphasised the need for tolerance and togetherness, citing the example of Jos, which he described as a hospitable city with a diverse population. 

He also asked the association to channel its request for land in Abuja through the Deputy Chief of Staff to the President, Office of the Vice President, to enable him to follow it up with the relevant authorities.