President Bola Ahmed Tinubu has told Nigerians to be patient with him, saying that his reforms have driven $30 billion foreign direct investments into the Nigerian economy in one year.
He said the economy is undergoing necessary reforms, noting that it is retooling to serve citizens better and more sustainably
Tinubu said this at his broadcast to commemmorate Nigeria’s 64th Independence on Tuesday.
Read also: Nigeria must correct it’s fiscal misalignment – Tinubu
“If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences,” he noted.
The president said his administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of the regulatory processes. He said the principle guides the divestment transactions in the upstream petroleum sector, where the government is committed to changing the fortune positively.
“As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.”
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