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Tinubu unities exchange rate, shuns arbitrage

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By Abiodun Okunloye

Those prompt actions will stop the wastage in the country's finance.

To stop the country’s finances from falling apart, President Bola Tinubu said on Thursday that he had unified the official and parallel market rates; he said that he could have kept the various foreign exchange systems in place before and benefited from them, but he didn’t do that. This was revealed at a civic reception held by the Lagos State Government in his honour at the Lagos House, Marina; he said he made the choice in the country’s best interest, just like he did when he got rid of the fuel subsidy. He could afford to take part in the arbitration and get a piece of the resources, but he said that wasn’t why people chose him.

The president stated that swift action was required immediately upon taking office. Prompt action on petrol subsidy will stop the bleeding of the country’s finance. The options are limited, he declared. President Tinubu stated that the administration would re-engineer the efficiency of control and management of the resources in order for political officeholders to fulfil their commitments to the people of Nigeria. He used the occasion to ask the governors in attendance to participate in helping him promote national development through collaborative efforts.

Collaboration among the officials will bring success to the administration.

An open-door policy will be implemented for them to work together. They will save Nigeria’s economy and bring it back from the brink. President Tinubu was grateful to the Lagos State Government for organising the reception and to his friends and associates who were present. He emphasized that he must complete the task at hand. Overwhelmed with happiness, Lagos State Governor Babajide Sanwo-Olu thanked guests and God for making President Tinubu the leader of the country. He regarded the president as a leader who might turn around the country’s economic fortunes due to his skillful management of human and financial resources.

AbdulRahman AbdulRazaq, Governor of Kwara State and Chairman of the Nigeria Governors’ Forum (NGF) expressed the group’s commitment to working with the federal government to improve conditions in Nigeria and reassure citizens. The fact that the president and vice president are both NGF alumni is a source of great pride for the organisation. They are determined to cooperate with a federalist who has demonstrated an interest in achieving results within a truly federal framework. They stress again that they will back a renewed hope agenda no matter the parties involved.

Other states should replicate the president’s excellent leadership.

In a speech made on behalf of the National Assembly, Senate President Godswill Akpabio expressed gratitude to President Tinubu for his role in facilitating the peaceful launch of the 10th National Assembly. The National Assembly, he said, is fully behind him, and Nigerians are proud of him. Mr. Akpabio has promised that they will do everything in their power legally to ensure his success. Also, Babatunde Fashola, a former governor of Lagos and past minister of works and housing, pleaded with governors and the people of Nigeria, saying that excellent administration should be reproduced across the 36 states.

Tajudeen Olusi, the leader of the Lagos Governor’s Advisory Council (GAC), took a deep recall of the past and said that the rise of President Tinubu was a pay-back occasion for the state of Lagos, which has made major contributions to the political development of Nigeria from the colonial era of Herbert Macaulay till the present day. Most of the country leaders were trained in Lagos. They are relieved that Lagos has provided Nigeria with a president for once. As a result, they may now take pride in their man. He added that his first 30 days in office have been praised as extraordinary by Nigerians.

Dignitaries and officials show support for the president’s decisions.

Lastly, present at the event were Vice President Kashim Shettima; the National Chairman of the All Progressives Congress, Abdullahi Adamu; the President’s Wife, Oluremi Tinubu; the Speaker of the House of Representatives, Tajudeen Abass; special advisers and Chief of Staff to the President, Femi Gbajabiamila. The event was also attended by current and former governors of different political parties who were showing their support for the president; the vote of thanks was given by Obafemi Hamzat, who is the Deputy Governor of Lagos.


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The content on AskNigeria.com is given for general information only and does not constitute a professional opinion, and users should seek their own legal/professional advice. There is data available online that lists details, facts and further information not listed in this post, please complete your own investigation into these matters and reach your own conclusion. AskNigeria.com accepts no responsibility for losses from any person acting or refraining from acting as a result of content contained in this website and/or other websites which may be linked to this website.

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