New Telegraph

We May Not Have Answers, Don’t Blame Us For Not Trying, Tinubu Tells Tripartite Panel

…sets Presidential Economic Advisory C’ttee
…we’ve what it takes to turn around economy-Dangite
…FX artificial, manipulative, Says Abdulsamad, BUA Chair

President Bola Tinubu has convened a tripartite meeting between the government, the business community and labour unions in the Presidential Villa over the Economic realities in the country.

This came as the President set up an Economic Advisory Committee to address the nation’s nosediving economy even as the Chairman of Dangote Group told newsmen that the group had what it would take to turn around the nation’s economy.

Chairman of BUA Cement Company, Abdulsamad Rabiu, in an interaction with newsmen after the meeting, said the volatility in the foreign exchange market was not only manipulative but artificial.

Tinubu at the meeting said “Let’s look at what we’re doing right and what we’re doing wrong to bring life back to the economy. As I said, many times, the people of this country are only the people whom we have to please.

“And we are very much concerned from students to mothers and fathers, farmers, the traders and realizing that every one of us will have to fetch water from the same well. ⁣

“We’re looking for additional efforts that might help the downtrodden Nigerians and we will provide that hope and reassurance that economic recovery is on its way. ⁣

“We are not saying that we have all the answers. But we will not be blamed for not trying. We assure Nigerians that we will do our best to get our marshall plan in place and fashion out the best economic future for this country.”

Chairman of the Dangote Group of Companies, Aliki Dangote, said “I think we had a very, very good meeting and what we discussed is generally about the economy, food security and security of the nation. We discussed everything in detail. There is the Economic Presidential Advisory Committee which has been set up and I think this will look at all the issues and address them, including job creation, food security, coming from also reflected the economy.
So, all these things have been discussed in detail. I can’t give you all the details right now, but we are hopeful and we’re a great nation. We have what it takes to turn around the economy and we’re going to do that.’

Chairman of BUA Cement, Rabiu Abdulsamad, who spoke to newsmen after the meeting said “Some of the issues we discussed for example, like the foreign exchange rate, which we know has always been the problem for the past two or three months.

“We discussed how to bring the foreign exchange rate down because we all know that what is happening as regards the foreign exchange is artificial, it is manipulative and thank God the CBN is doing quite a lot.

“Now, the exchange rate has come down from N1800 to maybe 1600 and N1500 now, and as you all know, everything in Nigeria is indexed to the foreign exchange, especially when it comes to stuff that we import into the country.”

Chairman of Heirs Group, Tony Elumeku told newsmen “I left this meeting with a lot of enthusiasm, excitement and optimism about the future of our country. I believe that implementing the decisions we arrived at today will propel our economy and help alleviate the poverty in the land, help create employment and help put food on the table.”

Anambra state governor, Charles Soludo told newsmen, “It’s a tripartite meeting designed to put heads together and think together. We have one national economy, and it’s the responsibility of the 225 million Nigerians to work together to make it great we have all the potential and we have all that it takes to make Nigeria ride through these turbulent times and put the economy back on a sustainable keel.

I think there is unity of purpose, determination, a sense of patriotism and determination by all to make it happen and by the special grace of God, it’s now the execution, execution execution. This is a standing committee that will be meeting from time to time to evaluate how the outcome.

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