‘Stopping importation of fuel will help Nigeria reserves’ – Uche Uwaleke

TVC N. Associate professor, HOD Banking and Finance department, Uche Uwaleke of Nasarawa State has said, if Nigeria stop the importation of  fuel, the foreign reserve will be improved.

Uwaleke said this during an interviw segment with TVC Breakfast show on the 2nd of January 2017.

Recall that the CBN Governor Godwin Emefiele said on the aspect of how he expects the recession to be over with prices going up and manufacturers lacking raw materials, that:Let me say this, I must confess that I wasn’t optimistic that the Foreign Direct Investment (FDI) will come initially, but with what we have seen in three months, almost $1 billion had come.

I feel that there will be more inflow into the system and more and more people will have foreign exchange to do their businesses. That will improve the industrial capacity. The rate may be high now, but there’s high possibility that with more availability of forex, the rate will come down. I am very optimistic that a lot of positive things will happen.”

What do you think about this?


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