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Nigeria needs stable naira, credible fiscal strategy for economic growth- Wally Adeyemo



The United States Deputy Treasury Secretary, Mr. Wally Adeyemo has said Nigeria needs a stable naira and implement a credible fiscal strategy to creature opportunities for millions of its people.

Mr Adeyemo stated this during his address at the Lagos Business School as part of his visit to Nigeria to strengthen diplomatic relations between the two countries.

While highlighting the steps Nigeria needs to take to create economic opportunities he said,

Going further, he spoke on the need to implement a credible fiscal strategy and invest in both physical and digital infrastructure, agriculture, and education.

He said,

The U.S. Deputy Treasury Secretary further commented on the need for the government not to be oblivious to the pains caused by the recent economic reforms and noted that international development partners like the World Bank, and African Development Bank (AfDB) are committed to working with the government.

Speaking on bottlenecks to Nigeria scaling its agricultural sector, Mr Adeyemo highlighted access to fertilizers, credits, limited use of technology, and high market entry cost as the factors hindering food security.

He said,

He also harped on the need for Nigeria to address corruption and the perception of corruption in both government and business.