Market reforms seen driving naira stability, sustainable growth – NDFF

The Nigeria Development and Finance Forum (NDFF) on Tuesday said the market reforms of the government will drive naira stability and sustainable growth in the short to long term.

Jide Akintunde, CEO of Financial Nigeria and Convener of NDFF 2024 conference, said this in a statement made available to BusinessDay.

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“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,” he said.

He said, “Over the past months, the new government has embarked on market reforms, which many stakeholders have canvassed for in the last few years to catalyse long-term economic growth and stability. In the short term, however, the introduction of market reforms has resulted in economic difficulties for many Nigerians.” Notwithstanding, Akintunde noted that 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.”

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On the NDFF 2024 conference, Akintunde said, it will provide actionable insights on how to navigate this road to transformation. The conference is strategically timed to hold close to the first anniversary of the President Bola Ahmed Tinubu administration, providing a major platform for support of the government and a structured interface with industry leaders, civil society leaders, academics, and leaders of international institutions.

According to him, the overarching aim of the conference,scheduled for May 8 to 9, 2024, is to provide clarity on how Nigeria and Nigerians will transition from the current acute economic, market, and social welfare stress to stability, growth, and progress.”

Themed “The Road to Economic and Social Welfare Transformation,” NDFF 2024 Conference aims to provide a strong backing for a holistic and transformative reform agenda for the Nigerian economy.