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We Have Plans to De-dollarise the Nigerian Economy to Strengthen the Naira — Olawale Edun
Nigeria’s Minister of Finance, Olawale Edun, has announced the government’s plans to de-dollarise the Nigerian economy in a bid to strengthen the Naira.Edun emphasized that reducing the nation’s dependency on the U.S. dollar for international transactions is critical to stabilizing the Naira and boosting the country’s economic resilience.
Edun highlighted that the dependence on the dollar for trade and financial dealings has negatively impacted the Naira, leading to depreciation and inflation.The government aims to diversify its foreign exchange reserves, promote the use of the Naira in international trade, and encourage foreign investment in local currency, thereby reducing demand for foreign currency.
In conclusion, the Finance Minister’s declaration signals a bold move toward restoring the Naira’s value by reducing the economy’s dependence on the dollar. This policy, if well carried out, could play a significant role in boosting Nigeria’s economic growth.
It has been reported that Niger State and some northern states have come together and agreed to take down 979 forests in order to strengthen national security.
This was revealed by the Niger State Governor, represented by his deputy, Yakubu Garba, at the passing-out parade in Mutum Daya.
He also shared that the government will support in any way they can in order to achieve this and strengthen security in Nigeria.
“The state will make necessary arrangements to support and empower the Forest Guard families for their service to the nation. We will provide them with adequate healthcare insurance scheme.”
Nigerian news analyst, Mahmud Jega, has shared his opinion on the recent airstrike carried out by the United States in Nigeria, stating that Nigerians should not blame President Bola Tinubu for the incident.
Jega made this statement during a recent interview, where he said he does not believe many people will hold the Tinubu administration responsible, as Donald Trump had issued threats against Nigeria long before Tinubu’s administration.
“No, I don’t think many people will blame the Tinubu administration for what is happening now because President Donald Trump, when he first made the threats, it was clearly not in coordination with the Tinubu administration or the government of Nigeria,” Jega said.
It has been reported that the United States carried out an airstrike targeting ISIS in the northwest region of Nigeria. The order was reportedly given by former U.S. President Donald Trump.
“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS terrorist elements in northwest Nigeria,” Trump said.
He added, “I have previously warned these terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.”
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