President Tinubu’s Economic Reforms Good for Nigeria - Abdulsamad Rabiu

Abdulsamad Rabiu, a prominent Nigerian businessman, has expressed strong support for President Bola Tinubu's economic reforms, highlighting their potential benefits for the country. In a recent statement following his visit to President Tinubu in Lagos, Rabiu noted the significant changes in the exchange rate, which had previously seen discrepancies as high as N800 to the dollar.

"You will remember that the exchange rate was at N500, and it hit N800 outside. That was not acceptable," Rabiu remarked. He acknowledged the initial difficulties of unifying the exchange rate, which at one point surged to nearly N2,000. However, he pointed out that the rate is now stabilizing, currently hovering around N1,500 to N1,550, and he is optimistic that it will continue to improve.

Rabiu emphasized that while some of the reforms posed challenges initially, the situation is gradually getting better. "I believe that some of these reforms… yes, initially, they were a bit of a challenge, but things are getting much better now," he stated. He expressed confidence in the government's efforts to ensure stability across various sectors of the economy.