President Bola Tinubu has again assured Nigerians that his administration would do everything in its power to turn around the country’s turbulent economy and bring relief to them.
He disclosed this during a tripartite committee meeting yesterday with several top business leaders to discuss solutions to Nigeria’s economic challenges.
The high-level meeting, held at the Presidential Villa, Abuja was attended by billionaires Aliko Dangote and Abdul Samad Rabiu, banker Tony Elumelu, Anambra State Governor Charles Soludo and Ogun State Governor Dapo Abiodun.
He said, “We will not be blamed for not trying. We assure Nigerians that we will do our best to get our Marshal Plan in place and fashion out the best economic future for this country,” Tinubu declared .
Tinubu acknowledged the intense economic pressures facing many Nigerians, from rising food costs to limited job opportunities.
“We’re looking for additional efforts that might help the downtrodden Nigerians and we will provide that hope and reassurance that economic recovery is on its way,” he said.
On their part, the business leaders emphasised the need to address issues with the foreign exchange rate, which has contributed to rising prices and economic instability.
“We had a very, very good meeting. We discussed everything in detail,” Dangote told reporters after the closed-door talks.
He highlighted the creation of a new presidential economic advisory committee that will tackle pressing issues like unemployment and “reflect on the economy.”
He said Nigeria has what it takes to turn around the economy but admitted “I can’t give you all the details right now.”
On his part, Abdul Samad Rabiu, also called the discussions “open, frank and exhaustive,” particularly regarding Nigeria’s problematic exchange rate which he described as “artificial” and “manipulative.”
He said the Central Bank of Nigeria has sought to stabilise the rate after it plunged to as low as N1,800 per dollar.
Samad said it has recovered to around N1500, but its movements still heavily impact pricing of imported goods.
Tony Elumelu said he left the meeting “with a lot of enthusiasm and excitement” about Nigeria’s economic future if the decisions reached at the talks are implemented.
“This will propel our economy and help alleviate the poverty in the land, help create employment and help put food on table,” Elumelu declared.
On his part, Soludo urged national unity and coordinated action to lift Nigeria out of its current economic crisis, which he labeled as “turbulent times.”
He implored Nigeria’s 225 million people to urgently work together to haul the country’s distressed economy back from the brink.
Despite a cascading economic crisis featuring double-digit inflation and a fast-falling naira, Soludo insisted Nigeria boasts the innate “potentials” and wherewithal “to ride through these turbulent times.”
But he stressed that saving Nigeria’s economic future rests upon “unity of purpose, determination, and sense of patriotism” among citizens from all walks of life.
“I think there is determination by all to make it happen,” added Soludo, who said execution of decisions is now paramount.
Governor Dapo Abiodun promised that state governments will work closely with Tinubu’s administration to provide relief interventions for struggling Nigerians as the federal fiscal and monetary policies take effect.
