Financial and economic analysts have urged the Federal Government to ramp up crude oil production to improve liquidity in the country’s foreign exchange market and help stabilise the naira. I think the short route for now within our country is to improve on crude production. Meanwhile, Nigeria’s oil production rose to 1.4bpd in December, according to the Organisation of Exporting Countries. For the Chief Executive Officer of BIC Consultancy Services Limited, Dr Boniface Chizea, who is an economist, improved oil production would bolster the country’s economy. “If we are able to produce more oil and sell it, that will help stabilise the naira.

Source: Punch January 28, 2024 14:41 UTC