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NESG: Crucial Plans are Underway to Restore Market Confidence, Improve FX Liquidity – President Tinubu


President Bola Tinubu has assured the business community, assuring that crucial plans are underway to improve foreign exchange liquidity.

The President was also optimistic that One Trillion Dollar Nigerian Economy is possible by 2026, noting that Three Trillion Dollar Economy within the decade was achievable for that Nigeria with double-digit, inclusive, sustainable, and competitive growth.

Declaring the 29th Nigerian Economic Summit (NESG) in Abuja, Monday, President Tinubu expressed confidence that by working closely with the private sector, financing the Three Trillion Dollar National Infrastructure Stock could be achieved in 10 years and not in 300 years.

“This is our agenda, and 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.

“I am confident that by working closely with all of you in the private sector, financing our Three Trillion Dollar National Infrastructure Stock can be achieved in 10 years and not in 300 years”, President Tinubu said.

The President said the construction of megacities in every geopolitical zone of the size and scale of Lagos must not take six decades because it can be achieved in one decade.

He emphasised that a fully networked and connected Nigeria by rail, gas, fibre optics and road network can be constructed in less than 20 years with thriving Industrial Zones in every geopolitical zone of Nigeria before 2030.

While revealing that by January 2024, the new student loan program, consumer credit schemes will have come into effect, President Tinubu said new and affordable homes will also be built at record pace.

He 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 was committed to delivering improved livelihoods and positive economic outcomes which Nigerians could tangibly feel and experience.

With more than 133 million multidimensionally poor Nigerians, the NESG boss, Niyi Yusuf said a multi-trillion dollar economy growth trajectory will urgently need certain actions including macroeconomic stabilisation programme supported by an aggressively scaled national security effort to halt all forms of syndicated and organised crime around crude oil and solid minerals.

The annual Nigerian Economic Summit is organized by the Nigerian Economic Summit Group in collaboration with the Federal Ministry of Budget and National Planning.

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