I will ensure stability in the value of the Naira – Jonathan

President Goodluck Jonathan on January 1st, 2014 reassured that his administration would ensure stability in the value of the Naira by striving to take away speculative behaviours that caused market exchange pressures.

Jonathan, who gave the assurance in a nationwide New Year broadcast in Abuja, said government would continue to promote policies that ensured economic stability.

He said his administration would also continue to lay the foundation for a vibrant economy to attract more significant Foreign Direct Investment, NAN reports.

‘‘We will continue to build and maintain a healthy external reserves position and strengthen fiscal buffers.

‘‘We will ensure the Naira remains strong, and gives foreign investors the clarity and certainty that they need, to guide future investment decisions.

‘‘We will continue to improve our payment systems and strengthen risk-based supervision mechanism for Nigerian banks to ensure overall health and stability of the banking system.

According to him, Federal Government will be introducing a broad spectrum of financial instruments to boost sector-specific enterprise areas in agriculture, Micro, Small and Medium Scale Enterprises (MSMEs), manufacturing, and oil and gas.

He said these instruments were meant to enhance the nation’s aggregate supply capacity, reduce poverty, promote job creation and increase the general well being of the people.

‘‘These efforts and other measures being spearheaded by relevant Ministries, Departments and Agencies, are geared to ensure a secure future for Nigeria and create a much more prosperous country, where people live more peaceful and fulfilled lives,’’ he said.

The President also enumerated some of the achievements of his administration in the past four years

According to him, the federal government has rehabilitated and expanded the nation rail transportation network, and successfully privatised power generation and distribution.

He disclosed that his administration had significantly reformed and increased local participation in the oil and gas industry, and improved nationwide access to potable water from 57 percent in 2010, to 70 percent at present.


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