News
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.
TV anchor Rufai Oseni makes headlines as he speaks on fuel subsidy in Nigeria. He shared that Nigeria can have fuel subsidy without the long queues at filling stations.
“When we were still paying subsidies, there were no long queues. We were subsidising. So you can still have a subsidy regime going on, and there will be no long queues because production was close by. Dangote had it. That’s just it. That argument also falls flat.
“The biggest beneficiaries of subsidy are not Nigerians. They are crony capitalists that have big infrastructure, and they do contracts. They have been the biggest beneficiaries of the subsidy,” he said.
Lagos State Governor, Sanwo-Olu, speaks to those in the electricity sector about the usual blackouts in the state.
He speaks on ways things can change in the state and how electricity can be provided.
“We need to drop corporate egos, abandon long-standing excuses, and confront the harsh realities obstructing progress in the power sector.”
“We, state governments, used to give excuses that everything is centralised, so the Federal Government has unbundled it now. What have we done in a year and a half?” Sanwo-Olu asked.
“We take two steps forward, we go five steps backward,” he said.
Lagos State Governor Babajide Sanwo-Olu has declared Thursday, August 20, a work-free day for public servants in the state to mark the Isese Festival.
Speaking on the celebration, he said “Ìṣẹ̀ṣe is not a relic. It is a living expression of our traditions and a celebration of Yoruba spirituality as an important part of Nigeria’s cultural and religious landscape,” he said.
He added “When the drums sound in Lagos on Thursday, they answer drums in Havana, in Salvador, in Port of Spain. Fifty-five million people and counting. Lagos is not observing a local holiday. Lagos is standing at the centre of a global heritage,” Aregbe said.
“Fighting for Nigerians Is Tiring” — VeryDarkMan Recalls Burna Boy’s Words
Enzo Fernández Moves Closer to Manchester City Transfer
