The President of the World Bank Group, David Malpass, has tasked the Nigerian Government to figure out a sustainable way to unify the exchange rate which has been riddled with constant fluctuations.
This is in accordance with a statement that the Bank recently posted online, which included details about the meeting between Malpass and Vice President Yemi Osinbajo.
President Malpass emphasized the economic advantages for the Nigerian people and urged Nigeria to take decisive action toward currency rate unification and stabilization.
Malpass said a unified exchange rate in Nigeria will significantly improve the business-enabling environment in Nigeria, attract foreign direct investment, and reduce inflation.
“President Malpass emphasized to Vice President Osinbajo that a unified exchange rate will significantly improve the business enabling environment in Nigeria, attract foreign direct investment, and reduce inflation.
President Malpass and Vice President Osinbajo also discussed the importance of increasing domestic revenues through broadening Nigeria’s tax base and increasing the efficiency of tax administration,“ the statement added.
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