President Tinubu Vows Economic Revival as Naira Appreciates

President Bola Tinubu has pledged to implement a series of measures aimed at revitalizing the economy following the recent uptick in the value of the Naira, attributed to actions taken to curb illegal currency speculation.

Chief Ajuri Ngelale, Special Adviser to the President on Media and Publicity, conveyed this message to reporters in Abuja on Friday. He emphasized the need for concerted efforts to capitalize on the strengthening of the Naira against major global currencies.

Ngelale disclosed that President Tinubu approved interventions to bolster the Naira’s value further and urged Nigerians to support domestic products. The President emphasized the importance of enhancing the purchasing power of citizens and making every earned Naira more valuable, both domestically and internationally.

He called upon all Nigerians to participate in safeguarding the economy against illicit activities and encouraged reporting any actions detrimental to economic stability.

Furthermore, Ngelale announced initiatives to support micro, small, and medium-scale enterprises (MSMEs), including the Presidential Conditional Grant Scheme, benefiting over one million nano enterprises nationwide. Additionally, the President approved significant funds for large-scale manufacturers, aiming to protect jobs and stimulate employment growth.

In a significant move, the President also sanctioned a new remuneration package for the judicial arm of government, aiming to combat corruption and ensure a trustworthy legal system for businesses and citizens alike.

Regarding the upcoming minimum wage review in April, Ngelale emphasized the importance of stabilizing the currency to ensure a sustainable wage structure that meets the needs of Nigerian families.