President Tinubu Addresses Economic Concerns

President Bola Tinubu has responded to the concerns of the business community, reassuring them of plans to enhance foreign exchange liquidity.

He emphasized that his administration will honor all legitimate foreign exchange obligations.

Speaking at the 29th Nigerian Economic Summit (NES) in Abuja, President Tinubu expressed confidence in working closely with the private sector to finance the Three Trillion Dollar National Infrastructure Stock in a decade rather than three centuries. He highlighted the need for the construction of megacities across the country and the establishment of a fully networked and connected Nigeria in less than 20 years.

President Tinubu stated, “Consistent with our commitment to enshrining fairness and the rule of law in our country, this government will uphold the sanctity of every legitimate contract. Specifically, as it relates to the foreign exchange obligations of the government, all forward contracts that the government has entered into will be honored and a framework has been put in place to ensure that these obligations are met in due course.”

He reassured the business community of additional foreign exchange liquidity to restore market confidence, addressing their concerns in the financial markets.

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President Tinubu also emphasized the commitment to strengthening governance, implementing sound policies, and delivering on eight key priorities, including ending poverty, achieving food security, fostering economic growth and job creation, and enhancing access to capital.

He called on the private sector to collaborate and support the vision of a renewed and prosperous Nigeria, emphasizing the need for a highly collaborative relationship between the government and private industry to fulfill these promises to Nigerians.