Advocating for Naira Stability: A Call for Consistency and Economic Vigilance
The Federal Government, particularly through the Central Bank of Nigeria, has received a strong plea to uphold recent initiatives and strategies aimed at stabilizing the naira.
Babatunde Adeyemo, the Chief Executive Officer of Pelican Valley Nigeria Limited, emphasized the importance of sustaining the government’s economic policies in a statement released on Thursday. He urged decisive actions against those undermining the nation’s economy to ensure the success of ongoing reforms and the revitalization of the naira.
Adeyemo praised President Bola Tinubu’s interventions in curbing forex volatility, noting the positive impact on the naira’s strength against the dollar. He expressed optimism that maintaining the exchange rate at N1000 per dollar or lower would provide significant relief to Nigerians.
These remarks were made following Adeyemo’s recognition by a Yoruba online platform, Boseri.
According to Adeyemo, economic recovery from recent forex policy adjustments and oil subsidy removal will require time and consistency. He stressed the importance of stability in economic measures to avoid adverse impacts on the economy.
Adeyemo also called for accountability, advocating for action against individuals undermining economic progress. He predicted a further improvement in forex rates in the coming weeks, providing much-needed relief to the economy.
While acknowledging the challenges faced by low-income earners in accessing affordable housing amidst rising inflation, Adeyemo proposed several measures to address this issue. He suggested government intervention in supporting credible real estate developers with land and low-interest credit facilities to construct affordable housing for this demographic.
Addressing the nation’s housing deficit, Adeyemo emphasized the need for long-term planning and execution, estimating a timeframe of 20 to 30 years for significant progress.
Expressing gratitude for the bestowed honor, Adeyemo pledged to uphold the values of integrity, philanthropy, and support for the vulnerable, both in his personal life and real estate endeavors.
The Publisher of Boseri, Mr. Johnson Akinpelu, along with colleagues Mr. Kunle Idowu and Mr. Johnson Onifade, commended Adeyemo’s exemplary character, philanthropic efforts, and commitment to social causes, which earned him the esteemed recognition.
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