In a meeting with foreign delegations on Thursday, President Tinubu explained that the elimination of the fuel subsidy and the merging of multiple exchange rates into were essential for the survival of the nation.
“We are challenged in terms of reforms, and we have taken the largest elephant out of the room with the removal of fuel subsidy, and multiple exchange rates are equally gone,” President Tinubu said in a meeting with the European Bank for Reconstruction and Development.
“We need reforms for national survival,” he added.
Despite the fact that both economic declarations have temporarily raised the average cost of living in the country, the President is certain that the country will profit from the long-term economic gains.
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The President also mentioned that the nation’s economic landscape is now favourable for foreign investments in a statement issued by spokesperson Dele Alake.
Last week, Mr. Alake said that the President was travelling to Paris in order to attract foreign investors.
“We are ready for business, prepared to welcome investments,” President Tinubu said at his meeting with Prof Benedict Oramah, President of the African Export-Import Bank and Odile Renaud-Basso, President of EBRD.
The President gave the delegations of both banks his word that the government would keep pushing for laws and changes that would encourage investment in vital areas of the economy, particularly agriculture.
“Nigeria is blessed with human and material resources,” the President continued to say. “We must stimulate recovery for the growth and prosperity of our people, which will not be far away. Nigeria is ready for global business and our reform is total.”
