The Presidency has said that with the successes recorded by President Bola Tinubu administration’s intervention in the foreign exchange market and resumption of full operations by the refineries, a stronger Naira should be achieved by the first quarter of 2025.

Special Adviser to the President on Media and Publicity, Ajuri Ngelale, who made the projection in a briefing to State House Correspondents in Abuja, said the policy revitalisation in the foreign exchange market is aimed at strengthening the Naira in currency markets. 

Ngelale, however, noted that the recent successes in foreign exchange market are not enough for the nation to rest the policies and other efforts to strengthen the Naira. 

He further noted that with the various refineries, public and privately-owned, resuming full operations and capacity between now and the first quarter of 2025, the position of the Naira should become stronger and reflect on prices of market commodities. 

According to him, the President’s multi-faceted approach to ridding the nation’s foreign exchange market of malign actors and sharp practices have provided a platform for the sustainable strengthening of the national currency against all global currencies.