The lack of trust in politicians in Nigeria could make an average Nigerian doubt if President Bola Tinubu will keep to his promise of clearing the FX backlog.
But Tinubu has once again assured Nigerians that he will not disappoint them or betray their trust in him.
President Bola Tinubu on Thursday assured Nigerians that his promise of resolving foreign exchange (FX) backlogs would be achieved.
This he said would be fulfilled through injection of funds into the market.
President Bola Tinubu made this known at the opening of the 2023 Bank Directors’ Summit in Abuja.
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Tinubu said funding liquidity in the FX market, even though a short-term solution, remained critical for the economy at the moment.
The summit had the theme, “Emerging Issues: Navigating the Complex Balance Between Regulation and Compliance.”
Addressing participants, the 14th Emir of Kano, Muhammadu Sanusi II, kicked against the idea of the president doubling as petroleum minister.
Sanusi described such as an impediment to constructive criticism of the oil industry.
He said, Nigeria, in an unwritten tradition, adopted the petroleum minister’s role for the president since 1999.
“This is not good for the industry that is the mainstay of the nation’s economy.
“Because it created a situation where “Nobody can talk. When you talk, they say you are attacking the president.”
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Also, addressing the current fiscal and liquidity change, Sanusi charged the Nigerian National Petroleum Company (NNPC) Limited to give an account of the dollar inflows from its operations.
On the AMCON levy, the former Emir of Kano rejected calls for the removal.
