Former minister of Industry, Trade and Investment, Mr Olusegun Aganga, has declared that the naira will continue to be weak if Nigeria remains an
Aganga stated this at the third Adeola Odutola lecture/presidential luncheon alongside the 51st Annual General Meeting of Manufactures Association of Nigeria , held yesterday in Lagos
He stated that, “Nigeria cannot afford to be left behind as it competes with leading importers like China, Germany and export-oriented African countries to meet the demands of consumers in Africa.”He noted that, “history has shown that Industry Multiplies National Wealth, creates jobs, is critical for exchange rate and balance of payment management and would make the naira stronger.
Speaking on behalf of the federal government, the executive secretary of Financial Reporting Council , Rabiu Olowo stated that the government is aware of the implication of some of the recent reforms that have an implication on the economy, especially the manufacturing sector. Olowo said: “Nigeria, as we all know, is the most populous nation on the African continent as it plays a crucial role, especially when we talk about the African Continental Free Trade Area.
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