My administration will improve forex market – Tinubu

President Bola Tinubu has assured investors that his administration will
restore and improve the foreign exchange market.

He said he was aware of the challenges facing the financial markets and will restore it.

Speaking at the 29th Nigerian Economic Summit (NES) in Abuja, Tinubu promised that the government will uphold the sanctity of every legitimate contract entered into by the previous administration.

He urged captains of industry to join forces with his government in delivering a “renewed and more prosperous Nigeria, a better Nigeria for all.”

“Consistent with our commitment to ensuring fairness and the rule of law in our country, this government will uphold the sanctity of every legitimate contract.

“Specifically, as it relates to the foreign exchange obligations of the government, all forward contracts that the government has entered into will be honoured and a framework has been put in place to ensure that these obligations are met in due course.

“My government is not blind to the challenges which several of you are facing in the financial markets.

” I can allay these concerns by revealing that we have a good line of sight into the additional foreign exchange liquidity that is required to restore market confidence.

“We shall govern ethically, with accountability and transparency; implementing sound and effective policies to accomplish our Eight Priorities,” Tinubu was quoted as saying in a statement emailed to Persecond News on Monday and signed by Ajuri Ngelale, the presidential spokesman.

Tinubu outlined the eight priority items of his administration as ending poverty, achieving food security, economic growth and job creation, access to capital across all segments of society and the economy, inclusivity, security, fairness and rule of law, and anti-corruption, stating that he is committed to delivering improved livelihoods and positive economic outcomes which Nigerians can tangibly feel and experience.

The President called on the private sector to support his vision for a greater Nigeria, saying: “I would like to charge you, the captains of industry here present to commit and redouble your commitment to our vision of a renewed and more prosperous Nigeria, a better Nigeria for all.

“For us to successfully deliver our promise to Nigerians, we recognise that it is imperative that we foster a highly collaborative relationship with the private sector.

“We must work together. I have proven capacity in this regard, as we remember the role of public-private partnership in the transformation of Lagos State under my leadership. We will replicate that across Nigeria with your unwavering support.

“Today, I urge you, as Nigeria’s foremost private sector think tank and policy advocacy group, to go much further than you have done before.”

“Bring your ideas, bring your leadership, bring your capital, bring the collective will of your large conglomerates and business networks.

“Let us build a future of renewed hope. My government is prepared. Are you also prepared?” Tinubu asked.