By Sogeyinbo Abdulrahmon Olabanji (SIWES student, Gate Way ICT Polytechnic)
Federal Government’s aim to achieve an exchange rate target of N500-N600/$1. While various stakeholders, including financial experts and private sector institutions, hold differing opinions on the feasibility and benefits of this goal, the article presented recommendations for stabilizing the macroeconomic environment and addressing exchange rate instability.
Dr. Tope Fasua, the Special Adviser to the President on Economic Matters, hinted at the government’s plan to bolster the value of the naira during a lecture in Abuja.
Despite differing views, there seems to be a consensus on the necessity for action, even with disagreements on specifics.
NECA and economy experts welcomed the idea but emphasized the importance of transparent policy plans, focusing on local production, addressing import tendencies, and ensuring coordination between fiscal and monetary policy authorities.
