The Federal Government has announced plans to bolster Nigeria’s foreign exchange (Forex) reserves by raising at least $10 billion, aimed at stabilizing the Naira. This strategic move was revealed by President Bola Tinubu during the inaugural Public Wealth Management Conference, a flagship event hosted by the Ministry of Finance Incorporated (MOFI) with the theme “Championing Nigeria’s Economic Prosperity”, and held on Tuesday.
At the conference, President Tinubu, represented by Vice President Kashim Shettima, articulated the administration’s commitment to unleashing the country’s untapped economic potential to generate millions of job opportunities and elevate the Gross Domestic Product (GDP).
“President Tinubu has unveiled the intention of his administration to spawn millions of jobs by unlocking Nigeria’s abundant public assets, targeting a doubling of the GDP by optimizing the value of these assets. In line with our economic revitalization agenda, the Federal Government is striving to secure at least $10 billion to enhance Forex liquidity, hence, ensuring Naira’s stability,” emphasized Vice President Kashim Shettima.
The President emphasized during the forum that the road to economic prosperity involves the strategic identification, consolidation, and maximization of the returns from government-owned assets valued at trillions of Naira.
The public wealth management conference was a platform for a robust discussion on strategies to enhance economic resilience and drive sustainable growth, positioning Nigeria as a beacon of economic prosperity on the global stage.
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