President of the Federal Republic of Nigeria, Bola Ahmed Tinubu has reiterated his administration’s zeal to get the country’s economy back on track.
In his remarks at the 29th Nigerian Economic Summit (NES) on Monday, President Bola Tinubu opined on his administration's plans to revive the struggling economy.
"My government has introduced several measures to resuscitate the economy, including the Five Hundred Billion Naira intervention to support small businesses and the agricultural sector," Tinubu stated.
The president expressed confidence that his administration can achieve ambitious goals like financing Nigeria's Three Trillion Dollar National Infrastructure Stock within 10 years by working closely with the private sector.
"A fully networked and connected Nigeria by rail, gas, fibre optics and road network can be constructed in less than 20 years with thriving Industrial Zones in every geopolitical zone of Nigeria before 2030," Tinubu remarked.
He vowed to honor "the sanctity of every legitimate contract," specifically citing the government's foreign exchange obligations.
"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," he assured.
The Nigerian President called on the business community to support his vision of a "Renewed and more Prosperous Nigeria" through public-private partnerships.
"I urge you, as Nigeria's foremost private sector think tank and policy advocacy group, to bring your ideas, bring your leadership, bring your capital, bring the collective will of your large conglomerates and business networks. Let us build a future of renewed hope. My government is prepared. Are you also prepared?" Tinubu challenged.
The NES is organized annually by the Nigerian Economic Summit Group and the Ministry of Budget and National Planning.
This year's summit comes as Nigeria faces high inflation, foreign exchange shortages and rising debt levels.