President of the Federal Republic of Nigeria Bola Tinubu has defended the unified foreign exchange regime implemented by his administration, stating it was in the country’s best interest.
He explained that unifying the official and parallel market rates was necessary to prevent financial losses. Tinubu compared this decision to his previous actions regarding fuel subsidy removal, emphasizing the need to take decisive steps to stop the financial bleeding.
He expressed the intention to re-engineer resource management and sought the support of governors for even development.
Tinubu thanked attendees, including Lagos State Governor Babajide Sanwo-Olu, and promised to work towards rescuing the country and rebuilding the economy. Various political figures, including former Minister Babatunde Fashola and Senate President Godswill Akpabio, expressed their support and pledged to cooperate with the president. The event witnessed a reunion between Tinubu, Fashola, and former Lagos Governor Akinwunmi Ambode, with Ambode’s presence being notable after four years.