The Exchange Rate Is Now Stable And We Have Paid Off $7BN Debt Owed By Previous Govt.

Ajuri Ngelale, Special Aide to President Bola Tinubu on Media and Publicity, has claimed that the Tinubu administration has stabilised the exchange rate and settled a $7 billion debt inherited from the former government led by Muhammadu Buhari.



In addressing the Federal Government’s economic recovery plan, he stressed the importance of building a strong partnership between the public sector and private industry.

In an interview with TVC News, Ngelale highlighted that President Tinubu is actively fostering a collaborative environment among economic managers at all levels of government.

He emphasised the president’s commitment to consistently and sustainably involving the private sector in economic initiatives.

According to Ngelale, this approach is vital for driving economic growth and ensuring that both the public and private sectors contribute effectively to national development.

One of the key elements of President Tinubu’s strategy, as outlined by Ngelale, is the inclusion of prominent figures from the private sector.

He stated that industry leaders such as Alhaji Aliko Dangote and Tony Elumelu are playing significant roles in the government’s economic plans.

He stated that their involvement underscores the administration’s recognition of the private sector’s critical role in achieving sustainable economic development.

Ngelale explained that these industry titans bring invaluable expertise and resources to the table, which are essential for implementing effective economic policies.

He said that by leveraging the knowledge and capabilities of such influential business leaders, the government aims to create a more dynamic and resilient economy.

Ajuri Ngelale said, “In recent times, we have not had a total unification of the exchange rates, and Nigerians are seeing the evidence of our work now.

“The exchange rate is now stable, and we have paid off the $7BN debt owed by previous government. We have a totally different picture based on the hard work that has been done by this president in this administration.”

Watch the interview video here (start from 1:08).

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