The naira is in its best possible health against the dollar, presidency spokesperson Garba Shehu claims.
The naira was ₦197 to 1$ in 2015 when Shehu’s boss Muhammadu Buhari became president.
The story has since changed.
The Central Bank of Nigeria (CBN), last week, made the NAFEX Investor & Exporter forex window rate of ₦410.25 as its official exchange rate to the dollar. It confirmed the rate on its website after it had removed ₦379/$ earlier in May.
But Shehu thinks the president is not doing a bad job given the circumstances at hand.
“I think the economists are more competent to talk about this but the naira is in the best possible health that it can be given the circumstance we are in,” Shehu told Channels TV on Sunday.
When asked to respond to criticisms that the Buhari government lacks the capacity to manage the economy, the presidential aide said:
“If you ask me this question, I will tell you that whoever questions the capacity of the government to manage the economy probably also need to have themselves re-examined because look at all of the things that have happened with COVID-19 over the last year or more.
“Can you see that in the entire Africa continent, this is the only country that is recording positive growth in its economy?
“Everybody is going under but our people are working day and night to ensure we don’t go under, we don’t go down as other countries.
“As far as I know, this government has the best team that anybody can have on the continent because the facts are there speaking for the administration,” he said.