Osinbajo expressed this view in his address at the opening of the 28th Nigerian Economic Summit (NES) where he represented President Muhammadu Buhari on Monday in Abuja.
The 2-day summit, with the theme, “2023 and Beyond: Priorities for Shared Prosperity”, was organised by the Nigerian Economic Summit Group (NESG), in collaboration with the Federal Ministry of Finance.
The vice-president said that real improvements had been seen in the non-oil revenues but focus must be on productivity or encouraging value addition.
Osinbajo said:’`Our exchange rate regime remains of concern; the discussion that we must have, shorn of sentiments, is how best to manage the situation.
This is by finding a mechanism for increasing supply and moderating demand which will be transparent and will boost confidence.
“ I am sure most can recall several efforts have been made in the past such as the Interbank Foreign Exchange Market, Retail Dutch Auction System, Wholesale Dutch Auction System, among others.
“All of these discovery mechanisms which, at least were transparent, evidence for all to see and they worked
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