The federal government wants Nigerians to patronize made in Nigeria goods and services as government continues to improve on strategies to enhance citizens spending and purchasing power.
Special adviser to the president on media and publicity, Ajuri Ngelale, said this during a session with state house correspondents on the development in the country.
Experts insist that Nigeria’s economic crisis is severe, impacting various sectors thereby necessitating urgent policy responses for recovery and sustainable development.
It was in efforts to mitigate the hardship that President Bola Tinubu implemented some monetary reforms, including the removal of fuel subsidy and unifying exchange rates to allow market forces to determine the value of the naira.
During a session with Journalists on Friday at the state house, the special adviser to the president on media and publicity says government In addition to that, over N150 billion is being disbursed from the Bank of Industry and SMEDAN on single digit interest rate, loans of up to N2 million to hundreds of 1000s of small and medium scale enterprises across all the local government areas.
He however added that Nigerians must agree to work together to strengthen the naira by patronizing goods and services made by Nigerians across value chain, across the sectors.
According to the SA, the President is taking a multi sectoral and comprehensive approach to ensuring that government is prudent in expenditure while restructuring the economy in such a way that sectors that are employing Nigerians that are empowering people are those sectors that will be able to more easily access lending both commercially and from public sector sources.
He expressed optimism that the naira will gain some stability when the new minimum wage comes into effect.
Editor: Ebuwa Omo-Osagie
