The Abuja Chamber of Commerce has expressed delight with what it described “the sudden positive turnaround of the activities in the economy,” especially the massive stock market rally and the exchange rate of the naira in the past few days.
This development, according to the Vice-President, Media, Abuja Chamber of Commerce, Jude Igwe, was as a result of
the peaceful conclusion of the presidential election and the declaration of Muhammad Buhari as the president-elect.
On the exchange rate of the naira, the spokesperson said the Chamber is also very pleased on the appreciation recorded against some major international currencies at the official and black market ends of the foreign exchange market.
“The indication that the naira appreciated against the euro and the British pound is interesting even though it remained firm against the dollar by the close of the week. The bounce back in the economy is a welcome relief,” he said.
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