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“Naira will continue to stabilize” – VP Shettima

Federal Government Launches $617.7 Million i-DICE Program to Boost Digital and Creative Enterprises “Naira will continue to stabilize” - VP Shettima

Vice President Kashim Shettima expressed confidence in the continued stabilization of the Nigerian Naira in the coming weeks and months in an address at the inauguration of the National Design and Innovation Competition held at the Presidential Villa in Abuja. The event was organized by the Interior Designers Association of Nigeria (IDAN), aimed to foster entrepreneurship and creativity among the nation’s youth.

Vice President Shettima’s reassurance comes against the backdrop of recent fluctuations in the exchange rate of the Naira against the US dollar. In February, the Naira reached as high as N1,900 to a dollar. However, through concerted monetary policies implemented by the government, the currency has gradually appreciated. Presently, the official exchange rate stands at N1,396 to a dollar, while in the parallel market, it is exchanged at N1,470.

During his speech, Vice President Shettima underscored the government’s commitment to implementing policies and programs aimed at stabilizing the Naira. He emphasized that measures would be sustained to ensure a favorable economic environment conducive to growth and stability.

Furthermore, Vice President Shettima reiterated the administration’s dedication to addressing key national issues, including food security, nutrition, and insecurity. He affirmed President Bola Tinubu’s administration’s unwavering commitment to tackling these challenges effectively, prioritizing the well-being and safety of all citizens.

Recognizing the pivotal role of youth in driving innovation and creativity, Vice President Shettima commended their contributions to national development. He assured the government’s continued support for youth aspirations, emphasizing the importance of nurturing talent and fostering an environment conducive to entrepreneurial endeavors.

The Vice President’s remarks underscore the government’s multi-faceted approach to economic stability and youth empowerment. By focusing on policies aimed at currency stabilization, addressing pressing national concerns, and promoting entrepreneurship among the youth, the administration aims to foster sustainable growth and development across various sectors of the economy.

In recent years, Nigeria has witnessed a growing emphasis on innovation and entrepreneurship as key drivers of economic progress. Initiatives such as the National Design and Innovation Competition serve as platforms for young Nigerians to showcase their talents and contribute to the country’s socio-economic development.

The Interior Designers Association of Nigeria’s initiative aligns with broader efforts to harness the creative potential of the nation’s youth. By encouraging innovation and entrepreneurship in diverse fields, such as interior design, the competition aims to empower young Nigerians to become agents of change and drivers of economic transformation.

As the nation navigates through economic challenges and works towards sustainable development, the government’s commitment to stability and youth empowerment remains steadfast. Vice President Shettima’s assurances signal a proactive approach to addressing pressing issues while harnessing the potential of Nigeria’s youthful population to drive progress and prosperity.

In conclusion, Vice President Kashim Shettima’s optimism regarding Naira stability and the government’s commitment to economic policies and youth empowerment reflects a comprehensive strategy aimed at fostering growth and resilience in Nigeria’s economy. Through collaboration between government agencies, private sector stakeholders, and the youth population, the nation can overcome challenges and build a brighter future for all citizens.

This Article is Fact-Checked. See Policy.
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