- The Bola Tinubu government seems to have a solution for the naira’s struggles in the foreign exchange market
- Forex supply has been a major issue, and the federal government of Nigeria believes increasing it will bring stability
- Naira has been on a free fall since 2023 and recently recorded its worst performance in the official and unofficial foreign exchange markets
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Wale Edun, Nigeria’s minister of finance and coordinating minister of the economy, has identified boosting oil production as critical to stabilising the naira-to-dollar exchange rate.
Speaking at the ongoing International Monetary Fund (IMF) annual meeting, Edun stressed the need to address foreign exchange (FX) supply issues by improving the country’s oil output.
He noted that Nigerianeeds to boost …