During a press conference in Abuja, the Queen Adenike Tejuosho Foundation applauded President Bola Ahmed Tinubu as a game changer with his rapid implementation of economy-driven policies. The foundation expressed its commitment to supporting the President’s vision by providing scholarships to over 200 deserving individuals, promoting the Education for All initiative.
Highlighting the critical significance of a unified exchange rate, the foundation emphasized that Nigeria’s current multiple exchange rate system creates market confusion and inefficiencies. Foreign investors, facing uncertainties and risks due to inconsistent currency valuations, have been hesitant to allocate resources to the country. President Tinubu’s objective of implementing a unified exchange rate aims to establish a stable and transparent business environment, boosting investor confidence and attracting both local and international investments.
The absence of a unified exchange rate system has severely affected Nigeria’s investment landscape, particularly discouraging foreign entities from committing capital. Fluctuating currency values hinder businesses’ ability to plan and forecast costs accurately. However, President Tinubu’s decisive move towards establishing a unified exchange rate system marks a turning point for Nigeria. This shift has the potential to attract much-needed investments, spur economic growth, and enhance the country’s global standing.
The establishment of a unified exchange rate by President Tinubu provides the stability and predictability that investors seek. With a transparent and consistent system in place, businesses can make informed decisions, accurately forecast costs, and plan long-term investments. This positive development will lead to an influx of investments in sectors such as manufacturing, infrastructure, and services, creating job opportunities and propelling Nigeria’s economic growth.
The Queen Adenike Tejuosho Foundation acknowledges and supports President Tinubu’s efforts to achieve economic stability in Nigeria. Recognizing the wide-ranging benefits of economic stability, including increased employment opportunities, enhanced security architecture, and improved funding for education, the foundation firmly stands behind the President’s policies. By endorsing the President’s initiatives, the foundation aims to contribute to the country’s overall development and prosperity.
By embracing a unified exchange rate system, Nigeria sets itself on a path towards economic efficiency, reduced corruption, and healthy market competition. The country’s attractiveness to global investors will soar, leading to technology transfers, skills development, and knowledge exchange. President Tinubu’s bold policies pave the way for Nigeria’s economic resurgence, positioning it as a favorable destination for capital inflows and propelling the nation’s growth trajectory
