If I become President - Bola Tinubu speaks on specifics
All Progressive Congress (APC) presidential candidate Bola Ahmed Tinubu claims that if elected, Nigerians won't have to deal with the difficulty of fluctuating foreign exchange (FX) rates.
On Thursday in Lagos, Tinubu gave a speech at a luncheon for business owners called "business ahead."
Nigeria now has two foreign exchange (FX) markets: the official central bank rate and the parallel market, sometimes known as the black market.
The Central Bank of Nigeria (CBN) has consistently stated that the parallel segment comprises less than 1% of forex transactions and should never be utilized to establish the exchange rate, even if it is more accessible to dealers and companies that use FX.
Speaking at the event, Tinubu said that if he was elected, Nigerians would no longer pay estimated electricity bills.
"Everyone must have access to electricity. And estimated billing will no longer be charged to you. There won't be various exchange rates after I'm elected president. Write it down."
"The purpose of my talk today is to uplift people so that tomorrow's promise might become a reality. You have our word that we will make Nigeria prosperous.
Further, the presidential candidate stated that Nigeria will no longer continue to subsidize fuel use in its neighboring nations and pledged to make bold decisions that will revive the economy, including eliminating fuel subsidies.©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.