Nigerian president meets business moguls, seeks way out of economic woes

Nigeria’s president, Bola Ahmed Tinubu, held a “crucial” meeting with some members of the organised private sector on Sunday as part of moves to find lasting solutions to the country’s economic downturn.

Present at the meeting is Africa’s and Nigeria’s richest man, Alhaji Aliko Dangote, President, Dangote Groups.

Others are Tony Elumelu, Chairman, Heirs Holding and Transcorp Plc; Abdulsamad Rabiu, Chairman, BUA Group; Wale Tinubu, and other members of the private sector.

The West African country is struggling with tough economic realities, with its inflation rate nearing 30 per cent, its worst in several decades.

This added to the poor performance of the local currency against the US dollar, leading to the sudden rise of commodities in the Nigerian markets.

At the meeting, President Tinubu told the top businessmen that the purpose of the meeting was to identify what the government was doing right and what could be done better to jump-start the struggling economy of the country.

The president highlighted the key role of the private sector in reshaping the state of the economy while stating that the government would continue trying until it “fashioned the best economic future for this country.”

After the meeting, the Nigerian business moguls commended the president for the invitation as they expressed optimism about the future of the country’s economy.