Emmanuel lkpeama
The Lagos State Chapter of the All Progressives Congress (APC) has congratulated the Central Bank of Nigeria (CBN) and the Federal Government on successfully boosting Nigeria’s foreign exchange reserves to a historic high of $41 billion.
In a press release signed by the party spokesperson Hon Mogaji Seye Oladejo stated that this achievement is attributed to the current administration’s sound economic policies, growing investor confidence,tet improved fiscal discipline, and strategic resource management.
He went further to state that Nigeria’s foreign exchange reserves have reached $41 billion, the highest level since December 2021, reflecting renewed external confidence and a stronger buffer for the CBN to manage naira volatility.
“We recognize the bold and decisive actions taken by the CBN, in collaboration with the Federal Government, to stabilize the exchange rate, improve liquidity, and attract foreign direct investment.”
“The rise in forex reserves will provide critical support for the naira, enhance Nigeria’s ability to meet international financial obligations, and strengthen the overall macroeconomic environment.”
“This achievement also reflects the success of ongoing reforms across key sectors, including oil and gas, financial services, and the non-oil export market.”
“These reforms are already yielding positive results in strengthening Nigeria’s economic fundamentals and positioning the country for sustainable growth.”he stated.
The party commended the CBN and FG for their bold actions to stabilize the exchange rate, improve liquidity, and attract foreign direct investment, which have contributed to the surge in forex reserves, while reaffirming its support for President Bola Ahmed Tinubu’s Renewed Hope Agenda and urges continued focus on policies promoting economic diversification, transparency, and inclusive development.
“We encourage all Nigerians to remain optimistic and committed to the collective goal of building a stronger, more resilient economy.”
“Once again, we congratulate the CBN Governor, the Minister of Finance, and all key stakeholders for this laudable achievement, and we look forward to continued progress in Nigeria’s economic recovery and transformation journey.”
