Tinubu To Tripartite Panel: We may not have answers now, but we’re trying

President Bola Tinubu has convened a tripartite meeting between government, 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 nose diving 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. Like I said, many times, the people of this country are only the people who 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 Marshal Plan in place and fashion out the best economic future for this country.” Chairman of Dangote Group of Companies, Aliko 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. And 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, coming from job creation, food security, and also refloating the economy.”

Chairman of BUA Cement, Rabiu Abdulsamad, who also 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 N1600 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 Elumelu 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 table.”

Anambra State Governor, Charles Soludo, told newsmen that: “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 and 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.” Ogun State Governor, Dapo Abiodun, said: “As a governor, I can assure you that all hands are on deck. All governors have resolved to join hands with Mr president to ensure that he provides the necessary intervention to cushion the effect of what we’re going through, whilst we are waiting for the implementation and the evidence of the fiscal and monetary policies that are already in place.”

Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, said: “I think the private sector is looking forward to the implementation of most of the decisions that we have made with the president. Manufacturers are looking forward to an environment that is conducive to business. And so the issues surrounding foreign exchange, insecurity and general operating environment were discussed and we received the assurances of Mr. President that very soon we are going to start to see some major changes.”