The Federal Government in a bid to diversify the economy, is collaborating with rice-producing states in the North to step up the commodity’s production.
Speaking in Enugu, vice president, Yemi Osinbajo said President Muhammadu Buhari’s economic policies would produce a stronger naira and by earning and exporting more the currency’s value will improve.
He said self-sufficiency in rice and wheat production would ease the pressure on the naira.
“We are trying to ensure that we are self-sufficient in and wheat production, so that there will be less pressure on the dollar. One of the major issues is that we have to earn more foreign exchange to raise the value of the naira.
“We also have to do more business internally to raise the value of the naira. So diversifying the economy is an important way to strengthen the value of the naira,” he said.
The naira currently exchanges for N197/$ at the official market and over N200/$ at the parallel market.
