Abuja, Nigeria
Kashim Shettima, the vice president of Nigeria, says the naira will continue to appreciate against the dollar.
Shettima said his boss, President Bola Tinubu knows the game and would ensure the country’s currency continues to appreciate.
He spoke during a visit of the delegation of the Lagos Chamber of Commerce and Industry to the President Villa, Abuja.
Stanley Nkwocha, in a statement seen by DailyAgent, quoted Shettima, saying Tinubu had to end fuel subsidy and ensure the unification of the multiple exchange rate because the former arrangement was producing billionaires overnight.
“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.”
The Vice President also noted that the quality of leadership provided by Tinubu as governor of Lagos laid the foundation for the massive development witnessed in the state.
“We will always thank President Tinubu for providing the blueprint for the development of Lagos that we are seeing today,” he said.
During the week, the governor of the Central Bank of Nigeria (CBN), Dr Yemi Cardoso debunked the rumour that the CBN was defending the naira using the country’s foreign reserve.
In the last few weeks, the naira has maintained appreciation against the U.S. dollar.
