Market Reforms Drive Naira Stability and Sustainable Growth, Says NDFF

The Nigeria Development and Finance Forum (NDFF) announced on Tuesday that the market reforms implemented by the government will lead to increased stability in the value of the Naira, as well as sustainable growth for the Nigerian economy.

According to Hope Moses-Ashike of Businessday NG, the NDFF emphasized that the recent reforms will not only help stabilize the Naira, but also pave the way for long-term growth and transformation. “This policy pivot can help put the economy on the path of long-term stability, sustainable growth, and transformation.

But there is an urgent need for adequate clarity and complementary policies to bolster investor and market confidence, and provide much-needed comfort for the citizens,” said a spokesperson for the NDFF.

This news comes at a time when the Nigerian economy has been facing challenges due to fluctuating currency values and the impact of the global pandemic.

The NDFF believes that these reforms will help to address these issues and create a more stable economic environment for businesses and individuals alike.

The NDFF also highlighted the importance of maintaining a market-based price discovery system to ensure that the reforms have a lasting impact. “Over the past months, the new government has embarked on market reforms, which many stakeholders have canvassed for in the last few years to achieve long-term stability and sustainable growth.

The adoption of a market-based price discovery system is crucial for the success of these reforms,” the spokesperson added.

In conclusion, the NDFF believes that the market reforms put in place by the Nigerian government will have a positive impact on the economy, leading to a more stable Naira and sustainable growth for the country.