breaking news this afternoun
former finance minister A former Minister of Finance, Olusegun Aganga, has explained that the naira would continue to be weak if the country remains an import-dependent country. Aganga speaking on Thursday at the 3rd Adeola Odutola lecture, during the 51st Annual General Meeting of the Manufacturers Association of Nigeria on Thurday said Nigeria must produce for local consumption and more importantly for export, for the naira to be strong. The PUNCH reports that the local currency fell from about 450/dollar to an average of 760/dollar following the exchange reforms of President Bola Tinubu. The local currency plunged to 1045/dollar on Thursday at the parallel market. Related News Rising costs pose threat to manufacturers, says MAN Wale Edun: Bright star for Tinubu’s economic agenda Fuel subsidy: Nigerians to get N5,000 transport grant after removal – FG But Aganga speaking on the free fall naira said, “What is the wisdom in spending billions defending the naira when it continues