Vice President Kashim Shettima has offered the reason why the Naira has not appreciated to N1,000 to a Dollar.
He said this on Tuesday at the Renewed Hope Ambassadors Strategic Summit of the Progressive Governors’ Forum (PGF) in Abuja.
Shettima said the naira would have appreciated to ₦1,000 in “weeks” if the Central Bank of Nigeria (CBN) had not intervened in the Foreign Exchange market on Monday to ensure market stability.
He said: “In fact, if not for the interventions by the Central Bank of Nigeria yesterday, the N1,000 to a dollar we are going to attain in weeks, not in months.
“But for the purpose of market stability, the CBN generously intervened yesterday.
“So, for some of my friends, especially one of our party leaders who takes delight in stockpiling dollars, it is a wake-up call.
“Our economy is picking up.
“Of the seven major investment decisions made last year in Africa, five were done in Nigeria.
“That goes to show the strength, viability, and the promise of the Nigerian economy.
“And as we advance into 2026, our focus shifts from stabilisation to acceleration.”
