{"id":289544,"date":"2023-09-19T07:21:01","date_gmt":"2023-09-19T06:21:01","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=289544"},"modified":"2023-09-19T07:21:01","modified_gmt":"2023-09-19T06:21:01","slug":"tinubu-must-tackle-corruption-to-unlock-nigerias-success-us-treasurys-adeyemo-tells-tinubu","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2023\/09\/19\/tinubu-must-tackle-corruption-to-unlock-nigerias-success-us-treasurys-adeyemo-tells-tinubu\/","title":{"rendered":"Tinubu must tackle corruption to unlock Nigeria\u2019s success \u2013 US Treasury\u2019s Adeyemo tells Tinubu"},"content":{"rendered":"<ul>\n<li><strong>Adeyemo advised President Bola Tinubu-led government to stabilize Naira<\/strong><\/li>\n<li><strong>He lauded Tinubu for implementing difficult and bold reforms<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>U.S. Deputy Treasury Secretary, Wally Adeyemo, says widespread corruption in Nigeria is hampering the country&#8217;s growth.<\/p>\n<p>Speaking at Lagos Business School on Monday, Adeyemo advised President <strong><a href=\"https:\/\/www.withinnigeria.com\/news\/2023\/09\/19\/dont-gag-opposition-voices-atiku-warns-tinubu\/\">Bola Tinubu-led<\/a><\/strong> government to stabilize Naira and launch a frontal attack on corruption to unlock Nigeria\u2019s potential.<\/p>\n<p>Adeyemo who is in Lagos to improve US-Nigeria economic ties lauded Tinubu for implementing difficult and bold reforms and listed steps needed for the type of growth that Nigeria needs to create economic opportunity for the Nigerian people.<\/p>\n<p>\u201cYour economic success is not only important to the approximately 200 million people who call Nigeria home, it is important to the region, the continent and the global economy,\u201d Adeyemo said in a speech<\/p>\n<p>The visit by Adeyemo, the highest-ranking member of the African diaspora in the Biden administration, comes after visits to the continent by other top officials, including Treasury Secretary Janet Yellen and Vice President Kamala Harris.<\/p>\n<p>\u201cFirst, Nigeria needs a stable naira. Unifying Nigeria\u2019s foreign exchange rate will also create the kind of macroeconomic stability that is essential to attracting foreign investment,\u201d he said.<\/p>\n<p>\u201cWe commend the difficult steps your government has already taken to accomplish this goal. The path to unification is not an easy one as everyone is experiencing, but going backwards would be even worse.<\/p>\n<p>\u201cSecond, the government needs to articulate and implement a credible fiscal strategy that will provide the resources to make critical investments.<\/p>\n<p>\u201cI recognise the decision to end fuel subsidies is hard for many Nigerian households. But it was an important early step to create resources that the government can use to invest in physical and digital infrastructure, education, and a strong small business environment.<\/p>\n<p>\u201cThere is nowhere this need is greater than the agricultural industry, which, despite the digital revolution going on in Nigeria, remains Nigeria\u2019s top employer.<\/p>\n<p>\u201cIts full potential, of course, is held back by issues like access to fertilisers, limited use of new technology, access to water and land and the availability of credit and high market entry costs.\u201d<\/p>\n<p>Adeyemo also called for steps to shore up the integrity of the Nigeria\u2019s banks and reduce the ability of \u201ccriminals, terrorists and others\u201d to launder money through the Nigerian financial system. Washington stands ready to help Tinubu\u2019s government tackle challenges in this area, he added.<\/p>\n<p>\u201cThe opportunity has never been greater,\u201d he said. \u201cYour government is pursuing difficult and bold reforms. The United States looks forward to being a partner as you build an economy that works for all Nigerians.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adeyemo advised President Bola Tinubu-led government to stabilize Naira He lauded Tinubu for implementing difficult and bold reforms U.S. Deputy Treasury Secretary, Wally Adeyemo, says widespread corruption in Nigeria is hampering the country&#8217;s growth. Speaking at Lagos Business School on Monday, Adeyemo advised President Bola Tinubu-led government to stabilize Naira and launch a frontal attack [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":289550,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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