• Saturday, May 11, 2024
businessday logo

BusinessDay

Again, Tinubu jets out to Europe

Tinubu’s fiscal profligacy stokes CBN’s aggressive monetarism

President-elect Bola Tinubu on Wednesday departed Nigeria for Europe, in what has been described as a “working visit”, and part of final preparations for his assumption of office on May 29

Tinubu’s trip to Europe is the second since the Independent National Electoral Commission (INEC) declared him winner in the hotly contested February 25, 2023 presidential election.

It is also coming against the backdrop of the myriad of challenges, including the ongoing battles at the presidential election petition tribunal, sitting in Abuja, as well as, agitations in the ruling All progressive Congress (APC) over zoning of offices, in the next government.

Tunde Rahman, head of Tinubu’s Media, Office of the President-elect, in a statement on Wednesday, said the president -elect “will use the opportunity of the trip to finetune the transition plans and programmes, and his policy options with some of his key aides without unnecessary pressures and distractions”

During the visit, the president-elect will engage with investors and other key allies with the goal of marketing investment opportunities in the country and his administration’s readiness to enable a business-friendly climate through policies and regulations.

Tunde Rahman disclosed that meetings with multi-sectoral actors in Europe’s business community including manufacturing, agriculture, tech and energy have been lined up, ahead of the visit.

In Tinubu’s detailed manifesto, also known as “contract with Nigerians”, the President-elect shows how he will pursue a 16-point action plan on national security, economy, agriculture, power, oil & gas, transportation, healthcare, the digital economy, sport, entertainment & culture, youth empowerment & entrepreneurship, women empowerment, social programs, judicial reforms, federalism/decentralisation of power and foreign policy.

Mindful of the challenges ahead, the President-elect said his government will be committed to permanently securing the safety, freedom and property of all Nigerians.

This will be achieved through creating a new Anti-Terrorist Battalions (ABATTS) whose duties will be “to seize the strategic and tactical initiative, giving terrorists, kidnappers and bandits no respite”; upgrade Tactical Communications and Transportation as military units will be better equipped with tactical communication gears and new vehicles to give them a greater mobility advantage over criminals, bandits and terrorists.

Tinubu hopes to convince them of Nigeria’s readiness to do business under his leadership through mutually-beneficial partnerships premised on jobs creation and skills acquisition.

He disclosed further that “reviewing the country’s economy forms a major plank of Tinubu’s Renewed Hope agenda and the meeting is part of his efforts to re-establish Nigeria’s importance in the global economic chain and create empowering opportunities for the country’s huge youth population.

The president-elect has hitherto promised to hit the ground running and the visit is reflective of his commitment to the promise as he has already begun talks with global actors in the important areas of the economy and security.

Before he left the country, Tinubu met with the House of Representatives candidates for speaker and deputy speaker endorsed by his party, the All Progressives Congress, Tajudeen Abbas and Benjamin Kalu, who were presented to him by the Joint Task Team of the House.

Ahead of the inauguration of the next government, however, several obstacles remain unresolved, especially those relating to credibility of the February 25 presidential election that has been intensely challenged by the opposition parties – Peoples Democratic Party ( PDP) and the Labour Party ( LP), at the ongoing Presidential Election Petition Tribunal in Abuja.