..Says Nigeria’s economy at a turning point, requires steadfast support of OPS
.Vows to crash inflation like exchange rate
By Ukpono Ukpong
President Bola Tinubu has reiterated his commitment to fulfilling his mandate, emphasising that he cannot afford to underperform, given the trust placed in him by the electorate.
Tinubu gave the assurance on Thursday during Iftar in Abuja with members of the Nigerian business community.
While noting that Nigeria’s economy was at a turning point, he said that it will require the steadfast support of the private sector for sustained growth and prosperity.
“I have no reason to underperform as the elected President of the country because I campaigned for the job.
“I cannot complain about the job. I appreciate the gesture, and what you have told me this evening is very inspiring. Cut the costs. Fix the bends. Summon courage. Save the money, but push the economy. We will be there. There are some countries that have failed. There are some countries that have succeeded. In our time, in my time, all of us must work together to succeed. Thank you very much,’’ President Tinubu said.
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The President further expressed gratitude for the support of the Nigerian business community and pledged to engage with them more frequently.
”I would have summoned you before now, not during Ramadan, because you are a very valuable part of my constituency.
”There is no driver of the economy that is bigger than the private sector. If the private sector is not flourishing, there is no growth, no prosperity, no employment or development. No matter how flowery the speeches are, not even a mushroom will grow.
”Thank you for persevering. We are at a turning point in our economy. I do not have to do a quadratic equation to illustrate all of that to you. I just want to appreciate you for your endurance and perseverance,’’ the President said.
Sharing insights from his visit to the New York Stock Exchange in 2023, President Tinubu noted Nigeria’s self-belief and determination to drive economic transformation from within.
”At the New York Stock Exchange, I appealed to foreign investors to consider Nigeria as a prime investment destination.
“At the end of my remarks, I told them we only want them to show their face and diversify Nigeria’s economy not as if we cannot do it ourselves.
“Tony Elumelu walked up to me and thanked me for making that statement. We can do it. Nigeria is a self-believer and can always deliver on its own. We know our first name and our last name. Our first name is: Spirit, and our last name is: Can do.”
In separate remarks at the Ramadan dinner, industrialists, bank executives, and entrepreneurs pledged their support towards the success of the administration’s economic programmes.
The Chairman of Heirs Holdings, Mr. Tony Elumelu, assured the President that the Organized Private Sector (OPS) in the country is solidly behind him.
‘‘Your transformation journey to turn around the economy and businesses are very appropriate for the country.
‘‘We appreciate what you are doing. We know the journey will not be smooth, but given the will, we will get to the Promised Land.
‘‘We admire your decisiveness, and we appreciate what you are doing. You are extremely passionate about taking Nigeria to the Promised Land.
‘‘On behalf of the OPS, we want to assure you that we are 100 percent with you. We have engaged with your ministers and associates; we share ideas, and we support them. We know that under your leadership, you have the ability to heal Nigeria permanently,’’ Mr. Elumelu said.
Also speaking, the Chief Executive Officer, Air Peace, Allen Onyema, charged business owners and manufacturers to work towards bringing down the cost of products and services.
Citing the example of Air Peace in reducing the cost of air tickets to London, Mr. Onyema thanked President Tinubu for improving the ease of doing business in the country.
”President Tinubu is thinking of the Nigeria of the future. The ease of doing business is coming back gradually. I can attest to that in the aviation sector because of the people you appointed to head that sector.
”I can also attest to what our High Commission in the United Kingdom did in making Air Peace flights into Gatwick Airport a possibility,’’ he said.
Dr. Stella Okoli, pharmacist and founder of Emzor Pharmaceutical Company, urged the President to look into providing more support for the pharmaceutical industry in the country to make it self-sufficient and self-financing.
In another development, President Bola Tinubu has promised to reengineer the financial landscape, and bring down alarming inflation currently experienced in the country.
The President spoke on Wednesday night when he hosted members of the APC Presidential Campaign Council and the Independent Campaign Council to Iftar at the State House in Abuja.
This is as he reassured Nigerians that the economy is being steered onto the path of sustainable growth and broad-based prosperity for Nigerian families in all parts of the country.
“The economy is looking much better. Yes, we have challenges of inflation, but we will bring it down. When the exchange rate was going haywire, it looked like we were asleep, but we worked on it diligently, and it is going down; it is getting better. Borrowing was higher a year ago, but today, we are reengineering the financial landscape, and our revenue is expanding. And we are taking up our sovereignty and earning our respect back in the comity of nations,” President Tinubu said.
Acknowledging members of the PCC and ICC for their rigorous efforts toward his election, the President said: “It is your footwork and footprints that made me the President. I campaigned on hope, and you promised Nigerians hope and a good result when campaigning for me. There are a lot of expectations. I, therefore, have to work hard for it. There is a windy road we are traveling on. We have to navigate carefully. Otherwise, one ends up in the bush, and that is all I have been focused on.
“It is your effort, resourcefulness, and dedication that has brought us here. The results will not come suddenly, you have endured the campaign, you must endure more, and I assure you that a very bright light beckons for you and your children. Nigeria will prosper, and we will all reap the benefits. We will work with determination and persistence.”
While urging citizens to continue to have faith in Nigeria by supporting his administration to succeed for the benefit of all, President Tinubu noted that “Europe and America did not get to where they are today in one day, but through persistence and hard work, which takes time and consistent focus.”
“Pray for Nigeria, think Nigeria. This is not play time. Let us believe in ourselves. We must ask questions. What is happening to our solid minerals? No rival wants you to be bigger than them. We must be dogged. We have to sort out our problem ourselves,” the President said.
Furthermore, he assured that the future of every Nigerian child is going to be brighter as the path to take them out of poverty has been cleared with his signing into law of the Student Loans Re-enactment Bill.
“The only thing that can fight poverty is education. Today, I signed the bill for the Student Loan Scheme. Imagine the children of the poor; what about people going through the mud, fishing in the ponds? How do you tell their children that their future will be brighter? It is only through education that we can fight poverty. A promising future awaits our children,” the President affirmed.
Vice-President Kashim Shettima, Senate President Godswill Akpabio, Director-General of the defunct PCC, Senator Simon Lalong, and the Director-General of the defunct ICC, in their various remarks, thanked the supporters for their perseverance, assuring them that the President had not forgotten all their efforts and would not disappoint them.
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