A former Chairman of Manufacturers Association of Nigeria (MAN), Dr Wale Adegbite, has called on the Federal Government to stabilise the exchange rate as a means of controlling inflation in the country.
Adegbite made the call in an interview with the News Agency of Nigeria (NAN) in Ota, Ogun State on Wednesday.
The former MAN chairman, who spoke against the backdrop of the inflation figure released by National Bureau of Statistics (NBS), said stabilising the naira was a veritable means of bringing down the current high inflation rate.
The National Bureau of Statistics (NBS) had, on Tuesday, said the headline inflation rate for January decreased to 24.48 per cent from the 34.80 per cent in December 2024.
Adegbite, however, stated that while the latest NBS figures might not reflect the actual market realities, it was expected that the inflation rate would further drop in 2025.
“We are appealing to the Federal Government to adopt better security measures to ensure free flow of goods across the country, especially food items.
“In addition, government needs to encourage more production, aided by access to affordable loans, to stem the inflationary trend,” he said.
