Nigeria: Mmobuosi Urges President Tinubu To Put Nigeria First, Calls for End to Restrictive Exchange Controls

By Boris Esono Nwenfor

BUEA, June 1, 2023 – Bola Tinubu was sworn in as Nigeria's president, on Monday, May 29, at a ceremony in the capital Abuja. The 71-year-old comes to power following a disputed election and is under pressure to quickly improve the economy and security in Africa's most populous country.

Nigeria’s new president is inheriting a country with profound challenges. Unemployment has soared, and financial insecurity has spread across Africa's largest economy under former President Muhammadu Buhari. And the founder of Tingo Group, Dozy Mmobuosi, says it is time for a comprehensive economic reform, most notably, “the end of restrictive exchange controls.”

“The task at hand is monumental, yet I remain optimistic. Our economy, the backbone of our nation, stands at a crossroads. I earnestly look forward to comprehensive economic reforms under your watch, most notably, the end of restrictive exchange controls. A free and liberal exchange system will not only boost our economic vibrancy but also usher in an era of limitless opportunities for both local and international investors,” Dozy Mmobuosi said.

Tinubu — the former governor of Lagos, Nigeria's economic hub — has promised to build on Buhari's efforts to deliver democratic dividends to citizens in a country where deadly security crises, widespread poverty and hunger have left many frustrated and angry.

"We have endured hardship that would have other societies crumble," said Tinubu. "Our mission is to improve our ways of life in a manner that nurtures our humanity, encourages compassion towards one another and duly rewards our collective efforts."

And with the election of President Bola Tinubu still being contested in court by opposition parties and among many young Nigerians, Tinubu has also pledged to reunite the country.

“However, the vision for Nigeria’s economic rejuvenation goes beyond macroeconomic policies. I envision Nigeria transforming from a primary goods exporter into a formidable powerhouse that exports a variety of processed goods. This metamorphosis will propel us to the forefront of industrialisation, creating numerous job opportunities and fostering sustainable economic growth.”

“President Bola Tinubu and Vice President Kashim Shettima, as you begin this journey of leadership, I encourage you to stay true to the values of integrity, transparency, and unwavering dedication to our nation’s progress. Let these values guide your decisions and actions, always putting Nigeria’s interests at the forefront,” Dozy Mmobuosi added.

“As we usher in this new era under your leadership, I am filled with an unwavering belief in our shared vision of prosperity and progress. Together, we shall navigate the course to a brighter and more prosperous future.”