Why I chose to unify exchange rate —Tinubu

President Bola Ahmed Tinubu Thursday in Lagos said he could have chosen to maintain the hitherto multiple foreign exchange systems and benefit from it, but instead opted to unify the official and parallel market rates to save the country from financial hemorrhage.

Speaking at a civic reception organised in his honour by the Lagos State Government at the Lagos House, Marina, President Tinubu said he took the decision in the nation’s best interest just like he did with fuel subsidy removal.

“I could afford to share the benefit by participating in the arbitrage, but God forbid! That’s not why you voted for me,” he said.

The President said it was imperative to take those decisive actions in the early days of his administration.

“We need to take the steps to stop the bleeding of our finances through speedy action on fuel subsidy. We have no choice,” he said.

President Tinubu said as a way of ensuring good use of available resources, the government would “re-engineer the effectiveness of the control and management of our resources in order to meet the obligations to Nigerians by political officeholders”.

The President used the opportunity to solicit the support of governors present at the event to work with him in ensuring even development of the country.

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“We will work together with an open door policy. We will bring Nigeria from the brink to a resilient economy. I want us to be partners so that we can rescue our land and make it a born-again nation.”

Lagos State Governor Babajide Sanwo-Olu, who was overwhelmed with joy, while appreciating guests, expressed gratitude to God for making President Tinubu the leader of Nigeria.

He described him as a competent manager of human and financial resources with the Midas touch to turn around the economic fortunes of the country.

Speaking on behalf of the Nigeria Governors’ Forum (NGF), Kwara State Governor and Chairman of the forum, Abdulrahman AbdulRazaq, pledged that state chief executives, regardless of party affiliations, were ready to cooperate and work with the President to ensure the country becomes better and safer for all citizens.

“NGF is excited that both the President and Vice President are alumni of the Governors’ Forum. We are committed to work with a federalist who worked to get things done in a truly federal system. We reiterate our support for a renewed hope agenda regardless of our parties.”