Tinubu’s promises on economy, good steps in right direction – NACCIMA DG

The Director General of the Nigerian Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. Sola Obadimu, has said that some of the promises the President Bola Tinubu made on the economy in his inauguration speech are good steps in the right direction.

Obadimu stated, “They are good steps in the right direction. He spoke on the need to harmonize forex rates which is also good for probity and attracting foreign investment, and for the need to make it easier for foreign firms to repatriate their money. These are all very good.”

It would be recalled that in his inaugural address, Tinubu had stated that, on the economy, “We will target a higher GDP growth and to significantly reduce unemployment. We intend to accomplish this by taking the following steps:

“First, budgetary reform stimulating the economy without engendering inflation will be instituted. Second, industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency. Third, electricity will become more accessible and affordable to businesses and homes alike.

“Power generation should nearly double and transmission and distribution networks improved. We will encourage states to develop local sources as well.

“I have a message for our investors, local and foreign: our government shall review all their complaints about multiple taxation and various anti-investment inhibitions. We shall ensure that investors and foreign businesses repatriate their hard earned dividends and profits home.”

-Vanguard