Nigeria not to devalue currency despite pressure : Vice President

| Sunday, February 28, 2016 - 08:05
First Published |
 Yomi Osinbajo, Nigeria

Nigeria not to devalue currency: Vice Prez

Lagos: Nigeria's currency will not be devalued despite pressures, Vice President Yomi Osinbajo said.
Speaking at a town hall meeting here on Saturday, Osinbajo insisted that devaluation was not on the table, adding that is the position of government, Xinhua news agency reported.
The vice president said the apex bank will operate in line with the speech delivered by President Muhammadu Buhari to come up with flexible exchange rate to be supported by strong monetary policies.
He said the foreign exchange policy of government was to stop unnecessary consumption of imported goods and promote local manufacturing.
The vice president said the administration's targets 2018 for complete reliance on refined petroleum products, adding that the petrochemical industry, railway infrastructure and provision of other infrastructure were atop the priority of the government. 

Download English News App and stay updated with all Latest News.
For News in English, follow us on Google+, Twitter and on Facebook.

Add new comment

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.