The Chairman of the Progressive Lagos Group (PLG), Mr. John Adekunle, has commended the former governor of Lagos State, Asiwaju Bola Ahmed Tinubu, for his foresight and effective policies aimed at stabilizing the Nigerian foreign exchange market. Adekunle made this statement at a press conference held in Lagos on Monday.
Tinubu, who served as the governor of Lagos State from 1999 to 2007, has long been recognized for his economic expertise and his ability to implement policies that promote growth and stability. During his tenure, he implemented several measures to encourage foreign investments and boost the local economy. His focus on attracting foreign investors and reducing bureaucratic red tape has earned him accolades both locally and internationally.
One of the key issues plaguing the Nigerian economy is the fluctuating foreign exchange rates. This situation makes it difficult for businesses to plan their operations effectively and can often lead to inflation and economic instability. However, Tinubu has been a vocal advocate for policies aimed at stabilizing the foreign exchange market and ensuring a more predictable environment for businesses.
Adekunle emphasized that Tinubu’s proactive approach to tackling this issue has led to positive results. Under his watch, Lagos State witnessed remarkable improvement in the stability of the local currency exchange rate. This stability has provided businesses with a conducive environment to thrive, attract foreign investments, and create job opportunities for the teeming youth population.
The PLG chairman also highlighted Tinubu’s initiatives to strengthen the nation’s foreign reserves and diversify the economy. These policies are crucial for reducing the country’s over-dependence on oil revenue and building a more resilient and sustainable economy.
Furthermore, Adekunle applauded Tinubu for his efforts in promoting financial inclusion and increasing access to finance for small and medium-sized enterprises (SMEs). By implementing policies that support SME growth, Tinubu has helped to foster entrepreneurial spirit, drive innovation, and contribute to poverty reduction in the country.
In conclusion, the PLG chairman’s commendation of Asiwaju Bola Ahmed Tinubu’s forex policies is a testament to the former governor’s visionary leadership and deep commitment to improving the Nigerian economy. Tinubu’s focus on stability, diversification, and financial inclusion has yielded positive results and set an example for others to follow. As Nigeria continues its journey towards economic prosperity, it is clear that his contributions will be remembered and celebrated for years to come.