|
Getting your Trinity Audio player ready...
|
President Bola Tinubu has assured Nigerians and investors that there is an ongoing plan to boost the country’s foreign exchange liquidity.
This was as the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said that the country was expecting about $10bn inflows in the nearest term, which would help to clear foreign exchange backlog and stabilise the naira.
Speaking at the 29th Nigerian Economic Summit in Abuja on Monday, President Tinubu acknowledged the challenges faced by the business community in the financial markets and assured them of additional foreign exchange liquidity to restore market confidence.
He also emphasized his administration’s commitment to strengthening governance by establishing a performance and result-oriented public and civil service culture and structure.
The President outlined the eight priority items of his administration to include ending poverty, achieving food security, economic growth and job creation, access to capital, inclusivity, security, fairness and rule of law, and anti-corruption.
He mentioned several measures introduced by his government to resuscitate the economy, such as the N5bn intervention to support small businesses and the agriculture sector, and also announced upcoming initiatives, including a new student loan programme and consumer credit schemes.
Tinubu called on the private sector to support his vision for a greater Nigeria and urged them to bring their ideas, leadership, capital, and collective will to build a future of renewed hope.
He emphasized the importance of a collaborative relationship between the government and the private sector, citing the success of public-private partnerships in transforming Lagos State.
The President expressed his readiness to deliver on his promises to Nigerians and called ony the private sector to join him in this endeavor.
On clearing the FX backlog which has drained investor confidence, the president said, all foreign exchange future contracts will be honoured by his administration.