To diversify the economy, the Federal Government is collaborating with rice-producing states in the North to step up the commodity’s production.

Self-sufficiency in rice and wheat production, according to Vice President Yemi Osinbajo, would ease the pressure on the naira.

The naira currently exchanges for N197 to the dollar at the official market.

It is over N200 to the dollar at the parallel market.

Osinbajo said the naira which has plummeted against major currencies would gain value, by moving away from the current mono-product economy; ensuring an increase in earnings; exporting more products and driving infrastructural development through local and foreign direct investment.

The vice president, who spoke in Enugu, said President Muhammadu Buhari’s economic policies would produce a stronger naira and by earning and exporting more the currency’s value will improve.

Credit: NationOnline