Market Forces Should Determine Exchange Rate-Ambode

The Governor of Lagos
State, Mr Akinwunmi Ambode has said that for a virile economy, the Naira exchange rate must be allowed to respond to other microeconomic exchanges in the economy.
Ambode stated this at the weekend while delivering a keynote address at the Nigerian Economic Outlook 2016 organised by the Net-Works Business Club promoted by the Redeemed Christian Church of God (City of  David Parish) with the aim of providing a platform to empower people towards the realization of the business potentials.
The Governor who was represented by the Commissioner for Economic Planning and Budget, Mr Akinyemi Ashade, expressed confidence in the regime of President Muhammadu Buhari to combat the fiscal failures, which he said, was responsible for the economic hardship we are experiencing following  the crash in the price of crude oil, our major source of revenue.
He said that the current policies must be time bound and give way for a more sustainable exchange rate policy that will bring confidence back to the system.