Vice-President Yemi Osinbajo has said to stimulate private sector investment, the Federal Government will review the current foreign exchange policy.
Osinbajo announced this on Friday at the virtual edition of the 2022 World Economic Forum.
His words, “We recently launched an economic development plan to take us through the next four years, and the key features of the plan are to focus on the private sector and how the private sector must move from just a rhetorical engine of growth to the major factor in growth.
“We are going to be focusing a great deal on value addition and productivity. We are going to be focusing also on ensuring that the private sector is unleashed to be able to do what it is required to do.
“That would involve to a very good extent reviewing foreign exchange policy, ensuring that we allow the market to play a greater role in foreign exchange policy, which we believe would be important for foreign investment and local investment as well.”
The Vice President added that the government would also focus on the technology sector of the nation.
He said, “We very strongly are looking at areas of technology; in the past six years, we have witnessed tremendous growth in the technology sector. As I mentioned earlier, we have six unicorns, businesses that have valuations of over a billion dollars.
“Despite all of the constraints and two recessions in six years, we’ve had these companies come into their own. So, we think that technology is going to be very big as regards investment.”
