By correspondent.
Celebrating the imposing increase in Nigeria’s Foreign Reserves by an impressive $7.69 billion, the Democratic Front has called on well-meaning citizens to join it in celebrations. This increase was achieved in a year between January 10, 2024, and January 10, 2025.
In a statement signed by its Chairman, Mallam Danjuma Muhammad and Secretary, Chief Wale Adedayo, the group described the feat as another indication of the success ofTinubu reforms
TDF said: “We are confident that Nigerians can look forward to a better economy from 2025 because the consistency in the upward trajectory of Nigerian foreign reserve in the last year will improve exchange rate stability.
“It is also bound to enhance the nation’s creditworthiness, reduce the risk of trade disruption and shortages of essential goods in the country, and improve investors’ confidence in the economy.
“From the forgoing, we can safely posit that President Bola Ahmed Tinubu’s promise to reduce headline inflation to 15% in the year 2025 is a possibility.
“More thrilling to us in our observation of the Tinubu economic reforms, is that the stability created in the unified foreign exchange rate, coupled with government efforts to enhance the inflow of foreign exchange through formal channels, have triggered a leap in the rise of foreign currency inflow through the International Money Transfer Operations (IMTO) by 63.7% in a period of nine months.
“This is a remarkable feat and by our approximation, this development will increase foreign exchange earnings, enhance economic growth, increase trade and investments, improve financial inclusion and ultimately bring in a plethora of opportunities for economic diversification.”
TDF urged Nigerians to continue to support the Tinubu administration in its bid to open the country up to more economic opportunities in 2025.
