President: I Unified Forex to Save Nigeria from Financial Crisis

*Advocates team work for robust economic turnaround 

*Seeks governors’ cooperation

Deji Elumoye in Abuja and Segun James in Lagos

President Bola Tinubu, yesterday, rose in defence of the unified foreign exchange regime recently introduced by his administration, saying it is in the best interest of the country.

Tinubu said he could have chosen to maintain the former multiple foreign exchange system and reap benefits from it, but opted, instead, to unify the official and parallel market rates to save the country from financial haemorrhage.

Speaking at a reception organised in his honour by the Lagos State government at the Lagos House, Marina, Tinubu said he took the decision in the country’s best interest, just like he did with fuel subsidy removal.

It was Tinubu’s first visit to Lagos since his swearing in as president on May 29. He was in Lagos to celebrate the Eid.

“I could afford to share the benefit by participating in the arbitrage, but God forbid! That’s not why you voted for me,” he said. He stated that it was imperative to take those decisive actions in the early days of his administration.

The president said, “We need to take the steps to stop the bleeding of our finances through speedy action on fuel subsidy. We have no choice.”
Tinubu explained that as a way of ensuring good use of available resources, the government would “re-engineer the effectiveness of the control and management of our resources in order to meet the obligations to Nigerians by political officeholders.”

He sought the support of governors to ensure even development of the country.

He stated, “We will work together with an open door policy. We will bring Nigeria from the brink to a resilient economy. I want us to be partners so that we can rescue our land and make it a born-again nation.”

Tinubu thanked the Lagos State government for putting together the reception, and appreciated his friends and associates who attended. He apologised to some of his friends in the audience whom he said had been yearning to see him but could not, because of the demands of his office.

“The assignment is greater than the love of the living room. We got to do the job,” he said.

According to him, “It was Tunde Fashola who was telling me that every time I fly across, I should look down and see so much dusty, unpaved roads, as well as incomplete projects. Yes, I’ve seen them, and I will see more.

“But I promise to work with the governors through an open door policy that will return Nigeria from the bricks to a resilient economy. Be ready, you governors.
“I know what I’m going to do from Monday, Tuesday, Wednesday, and on, and I want us to be partners so that we can rescue our country and make it whole again.”

Tinubu also thanked party members and faithful for keeping the faith with him on the long tortuous journey to the presidency.

He said, “I’m very grateful. I thank my vice president, you shall receive the joy of giving, the joy of perseverance, joy of resilience and endurance, you will see the reward for this country; it’s going to prosper and be prosperous.

“I say thank you to all of you and I appreciate tonight. I will continue to appreciate more when we work together to dissect the possible economic prosperity of our nation in favour of our children. I’m also glad to see former Governor Akinwunmi Ambode. God bless you all.”

Lagos State Governor Babajide Sanwo-Olu told Tinubu, “Lagos is proud of you.”

Sanwo-Olu expressed confidence in the president’s abilities.

He said, “I’m sure you will all agree that since he took his oath of office as the president of the largest black nation, we have seen uncommon pronouncements, uncommon audacity of change, a renewed hope that he promised us. I’m also proud to say that this is a tenure that begins with a promise of change and, within a short time, we are beginning to see that change.

“Mr President, your ascension to the seat was greeted with great war and expectations. We believed in you as a leader, a builder of men, talents, and a custodian of the best ideas of governance. I’m happy to say that, indeed, you are our Grand Commander-in-Chief of the Armed Forces and President of the Federal Republic of Nigeria.

“You’ve catalysed series of economic interventions, policy changes, and you have sown the seed of future prosperity. Your administration has rekindled the attitude of resilience and integrity among fellow Nigerians. It is, indeed, commendable here to sing of all the great reforms that you are about and you are changing for us.

“We are confident that under your leadership, Nigeria will reach unprecedented heights. We stand in solidarity with you in bringing your great vision for Nigeria to life, and we will join hands with the president to rebuild Nigeria.”

Former Minister of Works and Housing, Babatunde Fashola, while speaking at the event, reiterated the need to support the president to succeed.

Fashola said, “Nigeria’s presidency is not a one-man job. He should be supported to succeed. Six of his policies in Lagos, as governor, have stood the test of time and have been adopted in other states and so, I urge the governors to support policies that will be introduced by the president.”

Speaking on behalf of the Nigeria Governors’ Forum (NGF), Kwara State Governor and Chairman of the forum, Abdulrahman AbdulRazaq, pledged that the state chief executives, regardless of party affiliation, were ready to cooperate and work with the president to make the country better and safer for all citizens.
AbdulRazaq stated, “NGF is excited that both the president and vice president are alumni of the Governors’ Forum. We are committed to work with a federalist, who worked to get things done in a truly federal system. We reiterate our support for a renewed hope agenda, regardless of our parties.”

President of the Senate, Senator Godswill Akpabio, who spoke on behalf of members of the National Assembly, thanked Tinubu for his leadership in smoothening the take-off of the 10th National Assembly.

Akpabio said, “You will succeed. Nigerians are proud of you and the National Assembly is here for you 100 per cent. We will do whatever is legislatively possible to make you succeed.”

Going down memory lane, the leader of Lagos Governor’s Advisory Council (GAC), Pa Tajudeen Olusi, said the emergence of Tinubu was a payback time for the state, having contributed significantly to the political evolution of Nigeria since the colonial era of Herbert Macaulay till date.

Olusi stated, “Those who have led this country were tutored in Lagos. We are grateful that the president of Nigeria this time finally came from Lagos. We have a man whom we are proud of. He has already started well and Nigerians have seen his first 30 days as remarkable.”

Lagos State Deputy Governor, Obafemi Hamzat, gave the vote of thanks at the occasion.

Other dignitaries at the event included National Assembly members and House of Representatives Speaker Tajudeen Abass. There were also Governors Dapo Abiodun (Ogun), Hope Uzodimma (Imo),  Abdullahi Sule (Nasarawa), Babagana Zulum (Borno), Alex Otti (Abia), and Hyacinth Alia (Benue).

Others were Governor Bassey Otu (Cross River), Duoye Diri (Bayelsa), Yahaya Bello (Kogi), and Acting Governor Lucky Aiyedatiwa (Ondo).

Former Governor Akinwunmi Ambode (Lagos), former Kano State governor, Abdullahi Ganduje, and former Lagos State Deputy Governor Femi Pedro also attended the event.

In attendance, too, were National Chairman of the governing All Progressives Congress (APC), Abdullahi Adamu; APC National Secretary, Iyiola Omisore; Lagos State Chairman of APC, Cornelius Ojelabi; Chairman of Nigeria Diaspora Commission (NiDCOM), Abike Dabiri-Erewa; former Lagos Deputy Governor Adejoke Orelope-Adefulire; Chief of Staff to the president, Femi Gbajabiamila, Senators Ganiu Solomon, Musiliu Obanikoro and other members of GAC.

Business leaders at the event were led by Aliko Dangote and Alhaji Rasak Okoya. Royal fathers of Awori extraction were also present at the reception.
Meanwhile, Fashola, Ambode and Sanwo-Olu had their moment of reunion, when they presented Tinubu with the Lagos symbol of Eyo.

Ambode was the cynosure of all eyes at the event, being the first time he would be reuniting with Tinubu and Fashola in over four years.

The former governor, decked in a royal blue agbada with matching cap, heartily mingled with his predecessor and successor. Sanwo-Olu thereafter took Ambode  to greet fellow governors and others at the reception.