We’re optimistic Nigeria’s inflation will moderate – Finance Minister, Edun

Minister of Finance, Wale Edun has expressed optimism that Nigeria's rising inflation which stood at 34.19 percent in June would moderate in the coming months. Edun disclosed this during a press briefing in Abuja on Thursday. According to him, the Federal Government has improved its fiscal management interventions in recent months which have started to positively impact Nigeria's economy.

He explained that the transition by CBN to a willing-buyer, willing-seller model has reduced exchange rate volatility and has improved volumes of foreign exchange trading. He added that in the next 3-4 weeks the federal government will begin the first issuance of its dollar-denominated security of $500 million to attract foreign currency held by Nigerians abroad, adding that depending on the success of the issue, the government has no plans of raising euro bonds from the international market.

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