Olatunbosun Oyintiloye, a prominent member of the All Progressives Congress (APC) in Osun State, believes that President Bola Tinubu’s exchange rate unification policy is starting to show positive results. In a recent conversation with journalists in Osogbo, Mr. Oyintiloye expressed his satisfaction with the recent developments in Nigeria’s economy.
Despite the initial challenges faced by Nigerians due to the tough measures implemented by the government, Mr. Oyintiloye pointed out that the recent appreciation of the Naira against the dollar in both the parallel and official markets is a significant achievement. He emphasized that the liberalization of the foreign exchange market and the strengthening of the Naira will attract foreign investments and restore confidence in Nigeria’s economy.
Mr. Oyintiloye also commended the Central Bank of Nigeria (CBN) for clearing all outstanding foreign exchange backlogs, amounting to $7 billion. He believes that this move will further stabilize the exchange rate and create a conducive environment for investment in the country.
While acknowledging the patience required from Nigerians during this period of economic transformation, Mr. Oyintiloye assured that the benefits of these tough decisions will soon become evident. He expressed optimism about the future of Nigeria’s economy under President Tinubu’s leadership and urged Nigerians to support local industries by reducing their reliance on imported goods.
In conclusion, Mr. Oyintiloye emphasized the importance of promoting local production and entrepreneurship to strengthen the Naira and accelerate the country’s development. He urged Nigerians to prioritize domestic goods over imports to foster economic growth and self-sufficiency.
As Nigeria continues on its path towards economic recovery, Mr. Oyintiloye remains hopeful that the Renewed Hope Agenda of the president will bring prosperity to the nation, ensuring a brighter future for all Nigerians.
