Nigerian President Bola Ahmed Tinubu took proactive steps to address the escalating economic challenges facing the nation by convening a high-profile meeting on Sunday at the Presidential Villa in Abuja.
The meeting featured key figures from the organised private sector, including prominent individuals like Alhaji Aliko Dangote, Tony Elumelu, Abdulsamad Rabiu, Wale Tinubu, and other influential members.
The urgency of the meeting reflects the profound economic hardships confronting Nigerians, primarily attributed to the steep rise in the exchange rate of the US dollar to the Nigerian naira. Recent data from FMDQ showed a significant depreciation, with the naira closing at N1,665.50 per US dollar on Friday, compared to N1571.31 the previous day, exacerbating economic strain nationwide.
Source: Business Day