President Bola Ahmed Tinubu on Monday revealed the plans the Federal Government (FG) is exploring in its effort to improve foreign exchange liquidity.
Tinubu has also allayed the concerns of the business community, assuring them that crucial plans are underway to restore market confidence. The President further promised that his administration will honour every legitimate contract with respect to Nigeria’s foreign exchange obligations.
Tinubu said this while speaking at the 29th Nigerian Economic Summit (NES) in Abuja on Monday, and expressed confidence that by working closely with the private sector, financing the Three Trillion Dollar National Infrastructure Stock can be achieved in ten years and not in three hundred years.
Guardian added that the President’s spokesperson, Ajuri Ngelale, in a statement further disclosed that Tinubu said the construction of megacities in every geopolitical zone of the size and scale of Lagos must not take six decades.
“Consistent with our commitment to enshrining fairness and the rule of law in our country, this government will uphold the sanctity of every legitimate contract,” Ngelale quoted Tinubu as saying.
“Specifically, as it relates to the foreign exchange obligations of the government, all forward contracts that the government has entered into will be honoured and a framework has been put in place to ensure that these obligations are met in due course.
“My government is not blind to the challenges which several of you are facing in the financial markets. I can allay these concerns by revealing that we have a good line of sight into the additional foreign exchange liquidity that is required to restore market confidence,” the President said.