Nigeria must boost non-oil export earnings to saveNaira, says Aganga

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A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc

Against the backdrop of the continuous depreciation of the Naira following the new foreign exchange market policy, a former Minister of Finance, Mr Olusegun Aganga, has said that the only way to strengthen the nation’s currency is to increase productivity and capacity, and become export-oriented.

He added that for Nigeria to achieve 15 percent export to gross domestic product ratio, it needs to earn about $72 billion from non-oil exports. According to him, there is a need to update the Nigeria Industrial Revolution Plan , noting that almost all the global exporters, and in particular Nigeria’s competitors for the African market now have a new plan.

Aganga tasked the federal government to declare the industrial sector a national priority sector, asserting that investment in manufacturing is better than spending billions of dollars to defend the Naira.

 

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