He spoke with State House correspondents at the Presidential Villa, Abuja.
According to him, the government would now rather focus improving and deepening the foreign exchange market by improving supply of foreign exchange into the market.
“There has been a lot of talk on whether or not we want to depreciate our currency again. The truth is that we had adjusted the currency by depreciating it from N155 to N197 in February this year.
There is no intention to depreciate or adjust the currency any longer.
“The President has been very clear on this The Vice President has been very clear on this and let me further reiterate our position at the Central Bank of Nigeria that we are not considering any further depreciation of the currency.
“What we are trying to concentrate on right now is how to improve and deepen the foreign exchange market by improving supply of foreign exchange into the market,” he said.
To do so, he said that the government will try to encourage people to export and earn export proceeds which should be use to import whatever they need to import.
However, he said that the government will also concentrate on how to reduce the import of items that can be produced in the country.
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