Amidst the ongoing depreciation of Nigeria’s currency, the Naira, the Federal Government has announced its aim to generate $10 billion to enhance foreign exchange liquidity for stabilizing the Naira.

The government has also revealed its intentions to create millions of jobs by unlocking the value of Nigeria’s extensive public assets, aiming to optimize and double the country’s Gross Domestic Product (GDP). President Bola Tinubu disclosed these plans on Tuesday in Abuja during the inaugural Public Wealth Management Conference organized by the Ministry of Finance Incorporated (MOFI) with the theme, ‘Championing Nigeria’s Economic Prosperity,’ as per a statement on Vice President Kashim Shettima’s official X handle.

Represented by the Vice President, the President emphasized the strategic approach of identifying, consolidating, and maximizing returns on government-owned assets valued in trillions of Naira. Since the unification of the forex rate by the Tinubu administration in June 2023, the Naira has experienced a significant decline, plummeting from N700/$1 to over N1500/$1 currently.

Criticism of Tinubu’s forex policy has emerged, with former Vice President Atiku Abubakar expressing concerns that the policy was hastily implemented without proper planning and consultations with stakeholders. In response, the Presidency has dismissed Atiku’s claim regarding Tinubu’s forex policy as unfounded.