FG’ll review forex policy to boost investment, says Osinbajo - Punch Newspapers

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The Vice-President, Prof. Yemi Osinbajo, has said the Federal Government will review the current foreign exchange policy in a bid to stimulate private sector investment.He said, “We recently launched an economic development plan to take us through the next four years, and the key features of the plan are to focus on the private sector and how the private sector must move from just a rhetorical engine of growth to the major factor in growth.

“We are going to be focusing a great deal on value addition and productivity. We are going to be focusing also on ensuring that the private sector is unleashed to be able to do what it is required to do. “That would involve to a very good extent reviewing foreign exchange policy, ensuring that we allow the market to play a greater role in foreign exchange policy, which we believe would be important for foreign investment and local investment as well.”He said, “We very strongly are looking at areas of technology; in the past six years, we have witnessed tremendous growth in the technology sector.

“Despite all of the constraints and two recessions in six years, we’ve had these companies come into their own. So, we think that technology is going to be very big as regards investment.”

 

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Kudos

They want to further devalue naira. That is what Osinbajo clamors for. Nigerian capitalists who collect their rents in dollars will always clamor for a weaker naira while the masses suffer in increasing poverty.

Nice one Sir

2minutes to the end of the Match means the actions are deliberate

You are now talking because election is near. When Buhari and his goons were riding roughshod on us, you were silent. Because you want to protect your job. Nonsense. It was Atiku that stopped Obasanjo's third term. You fall hand

For over 6 years, how many 'FG will..' and how many 'FG have done..' They just keep saying 'will, will.'

I concur. Review of Forex policy is long over due.

Progressive thinking

Pastor is talking in spirit

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