- Tinubu affirmed his commitment to upholding all valid contracts concerning the nation’s foreign exchange responsibilities
President Bola Tinubu has alleviated concerns within the business community by ensuring that essential measures are in progress to enhance foreign exchange liquidity.
Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, stated in a release that Tinubu conveyed this reassurance during the 29th Nigerian Economic Summit (NES) held in Abuja on Monday.
Tinubu affirmed his commitment to upholding all valid contracts concerning the nation’s foreign exchange responsibilities.
He expressed confidence that through close collaboration with the private sector, the financing of the $3 trillion national infrastructure portfolio could be accomplished within a decade.
Furthermore, he emphasized that the development of mega cities resembling Lagos in size and scale across every geopolitical zone should not be a multi-decade endeavor but rather achievable within a single decade.
Tinubu emphasised that a fully networked and connected Nigeria by rail, gas, fibre optics and road network could be constructed in less than 20 years with thriving industrial zones in every geopolitical zone before 2030.
”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 honoured and a framework has been put in place to ensure that these obligations are met in due course.
”My government is not blind to the challenges which several of you are facing in the financial markets.
“I can allay these concerns by revealing that we have a good line of sight into the additional foreign exchange liquidity that is required to restore market confidence,” he said.
Tinubu who assured the business community of a fairer and safer playing field for all, said his administration is strengthening the machinery and architecture of governance.
According to him, his administration is establishing a public and civil service culture and structure that is performance and result-oriented.
“We shall govern ethically, with accountability and transparency; implementing sound and effective policies to accomplish our eight priorities,” he said.
Tinubu outlined the eight priority items of his administration as ending poverty, achieving food security, economic growth and job creation.
Others are: access to capital across all segments of society and the economy, inclusivity, security, fairness and rule of law and anti-corruption.
Discussion about this post