President Bola Ahmed Tinubu has said he took the decision to unify the country’s exchange rate to avert looming financial crisis in the country.
According to a statement by Dele Alake, Special Adviser on Special Duties, Communications, and Strategy to the president, Tinubu stated this at a civic reception in his honour by the Lagos State Government at the Lagos House, Marina.
The president was quoted to have said that although he had the option to maintain the previous multiple foreign exchange systems and also benefit from them, he chose to unify the official and parallel market rates for the sake of the country.
He said this decision as well as the decision to enforce the fuel subsidy removal was in the best interest of Nigeria.
“I could have chosen to share the benefits by participating in the arbitrage, but I am not here for personal gain. That’s not why you voted for me,” Tinubu stated.
The president emphasised that in view of the financial bleeding as a result of subsidy on petrol, he was left no choice but to address the issue squarely, noting that only effectively control and management of Nigeria’s resources will enable him to fulfil his obligations to the Nigerian people.
“The assignment is greater than personal interests. We must do the job,” Tinubu stated.
Chairman of the Nigeria Governors’ Forum (NGF) and Governor of Kwara State, Abdulrahman AbdulRazaq, expressed the readiness of state chief executives, regardless of party affiliations, to cooperate with President Tinubu for the betterment and safety of all citizens.
