We Need More Exports Of Products To Boost FX Earnings – Obaseki

We Need More Exports Of Products To Boost FX Earnings – Obaseki

2 mins read

Edo State Governor, Mr Godwin Obaseki, has said that Nigeria needs to reform the economy to scale up the export of semi-finished and finished products as the only way to solve the current foreign exchange crisis in the country.

The governor made this known while addressing leaders of Edo South Senatorial District of the State, who visited him in Government House, Benin City on Wednesday.

READ ALSO: Dollar Falls In Official Window, Black Market USD Rate Drops To N910

The recent floating of the Naira, by the Federal Government, has resulted in a sharp rise in the exchange rate, with $1 exchanging for as high as N945.

According to the governor, “We can’t wait for the dollars. We can’t wait for everything to be imported. We need to export our own, as things will not get better soon. If we continue to work for the people in Edo, we will make the life and the future of the people better.”

READ ALSO  Binance To Exit Russia Amidst Sanctions Violation Probe By US

Obaseki said the state government is working assiduously to improve the state’s economy and build the necessary mechanism to support exports.

He said: “In two years under the Edo State Oil Palm Programme (ESSOP), we have allocated over 70,000 hectares of land for fresh oil palm plantations. Various investors are now cultivating nurseries in the State. We are developing businesses in Edo State and creating an institution to train our people to work for those businesses.”

The governor further stated that the state’s government is building a solid base to promote exports and drive productivity, creating jobs and building wealth for the benefit of Edo people.

PBA Reporter
+ posts

Leave a Reply

Your email address will not be published.