NewStats: 3,264,191 , 8,182,913 topics. Date: Tuesday, 10 June 2025 at 06:14 AM 3q2c29

President Bola Tinubu says his istration is making efforts to raise at least $10 billion to increase foreign exchange (FX) liquidity, stabilise the naira and grow the economy.

Tinubu made this known at the inauguration of the public wealth management conference organised by the Ministry of Finance Incorporated (MOFI) on Tuesday in Abuja.

He said there was a need to identify, consolidate and maximise returns on government-owned assets worth trillions of naira.

Represented at the event by Vice President Kashim Shettima, Tinubu also said there are plans to create millions of jobs by unlocking the value of Nigeria’s vast public assets.

“The federal government set a goal to raise at least $10 billion in order to increase foreign exchange liquidity, a key ingredient to stabilise the naira and grow the economy,” he said.

“At the core of this is ensuring optimal management of the assets and investments of the Federal Government towards unlocking their revenue potential.

“This includes our bold and achievable plan to double the GDP growth rate and significantly increase the GDP base over the next 8 years.”

Tinubu, however, revealed that decades of mismanagement and underutilisation have plagued the country’s assets, spread across Nigeria and outside its borders, leading to revenue losses that have hindered economic growth.

He assured that “the newly restructured Ministry of Finance Incorporated, which is to act as custodian and active manager of these assets, will now take the centre stage.”

The president also said transparency and ability are key principles, believing improved corporate governance, innovative partnerships and attracting alternative investment capital would significantly increase returns.

“These improved returns will then be directed towards crucial funding for education, healthcare, housing, power, roads and other areas vital to lifting millions out of poverty,” Tinubu said.

“And stimulating sustainable economic development and job creation for the youths.”

By efficiently managing public resources, Tinubu said the government aimed to build a more equitable society and unlock the full potential of its citizens.

He, therefore, called on all stakeholders, including ministries, development financial institutions and the public and private sector players, to partner with MOFI to optimise the strategic assets.

Tinubu expressed hope that the collaborative effort would unlock Nigeria’s full potential and create a brighter future for all citizens.

On his part, Shamsudeen Usman, MOFI board chairman, said the asset manager would play a more active role in the management of assets under its purview.

He told operators of the assets to see MOFI as partners rather than competitors or regulators.

The chairman said the management was committed to high-level corporate governance.

Usman also said the company had integrated a non-conflict of interest policy to guard against practices that undermine professionalism among of staff.

https://www.thecable.ng/tinubu-well-raise-10bn-to-stabilise-naira-boost-fx-liquidity/amp

Even if you raise 100 billion dollars.

As long as there are a few Nigerians with 10 billion naira cash at home, they will change it to dollars in no time.

And we are back to square one......The Banks are complicit as well, our banks need the "sanusi" treatment, Flush out culpable CEO/MD's

You have to address the looters, the corrupt officials, the money launderers, the currency traffickers, the currency hoarders.

Stop pretending they dont exist or they are untouchable. Are they APC ? Why are they untouchable ? Have you also withdrawn tax waivers, import waivers, given to monopolies ?

Or is it the intention of this government to remove all the subsidies on the Masses ? Did Emefiele act alone ? Why are more people not in Jail ? No subsidy on dollars, no subsidy on forex ? Why is the situation getting worse ? Where is the subsidy money going to now ? Are we paying politicians subsidy now ? Because the money has to be going somewhere ?

These people are making a fool of your government and your strategies. You are now spending more than the "removed" subsidy to stabilize the naira....lol



https://www.youtube.com/watch?v=OAQxm8-F1bg

Political gragratum and propagandius statement that have no positive effects on reality.

We will.we will .we will . 8 months already gone with we will. Dollar is at 1900 already. Bulaba is still saying we will . Before you know it 8 years is over

Short term fix.


As long as everyone continues to use importer rather than local goods. The demand for fx will always stack higher than the naira....

From your gate to your living room to your bedroom everyone uses 90% imported in their homes. Even when local is available and cheaper. We all still opt for these imported items.......



We all know the solution but the fruit of corruption is to steal as to use all that glitters that is not gold....

Buy local to grow the Naira.


And it is still the same corruption that has our fx rising because our main trade partner is China and we should be concerned about the yen but our loans and corruption is in dollars.

Are they still campaigning or what I thought election is over why is Tinubu and his team still making campaign promises ......Omo na real one chance we enter ooo

I am sure you can raise that from the money you have looted over the years from Lagos.

All talk without any tangible result!

Talk is so cheap. Nigerians would be happier if actions were taking without all this noise.

May your efforts yield positive results.
The other one with questionable philosophy certificate would have buried our economy patapata had it been he won. Medical doctors, lecturers, labour etc. for don dey strike now.
We dodged a bullet.

Kenneth4u205:
We will.we will .we will . 8 months already gone with we will. Dollar is at 1900 already. Bulaba is still saying we will . Before you know it 8 years is over

So u know that he will use 8 years?

Government of we will

Ozoùr think say dem still dey campaign

Tinubu is planning to borrow and looth 10billion USD in the guise of defending the naira.

Let's assume (without conceding) he will actually borrow without loathing to defend the naira, isn't that most stupid thing to do.

If you borrow 10b USD and defend naira in the short term, won't you pay back the 10b USD with interest in USD?

This government is clueless.

flokii:
May your efforts yield positive results.
The other one with questionable philosophy certificate would have buried our economy patapata had it been he won. Medical doctors, lecturers, labour etc. for don dey strike now.
We dodged a bullet.

Any thread I see tinubu ers comment, I just burst into laughter 😂😂😂 I don't know why. Like seriously I don't know why 😂😂😂😂 Omo 😂😂

He has to go after the people who put people in power…although that would be political suicide…but I can’t see any other solution!

Grammar without results

Nigeria will be alright

These men just don't have tge slightest clue

Raise from borrowing?
Wake me when CBN start printing dollars

You better talk to to your partners in Colombia so they can inject Nigeria with dollars...it's about time we start thinking outside the box

malali:
Even if you raise 100 billion dollars.

As long as there are a few Nigerians with 10 billion naira cash at home, they will change it to dollars in no time.

And we are back to square one......The Banks are complicit as well, our banks need the "sanusi" treatment, Flush out culpable CEO/MD's

You have to address the looters, the corrupt officials, the money launderers, the currency traffickers, the currency hoarders.

Stop pretending they dont exist or they are untouchable.

These people are making a fool of your government and your strategies. You are now spending more than the "removed" subsidy to stabilize the naira....lol

This is one of the best post i have read in recent times. True talk

flokii:
May your efforts yield positive results.
The other one with questionable philosophy certificate would have buried our economy patapata had it been he won. Medical doctors, lecturers, labour etc. for don dey strike now.
We dodged a bullet.

Chai

Will insatiable greed allow you? You guys will raise it and steal it again, the struggle continues

Tinubu and blowing smoke.

Audio

SalamRushdie:
You better talk to to your partners in Colombia so they can inject Nigeria with dollars...it's about time we start thinking outside the box

Aswearugad, those barons warehouse dollars cash. Mad oOoOO

Las Las they'll resort to borrowing.
All the money you people claimed to have recovered and the ones generated by customs, NPA, efcc etc where are they?
Criminals in power

We will
We shall
We are about too
We will soon.

Since 1960, keep playing 🤧

You raised 3bn now another 10bn

The dollars are the pipeline to stowing away stolen cash just like the Abacha saga

Tinubu and his cohorts will likely steal the loan and make Nigerians pay down the line with future crude oil that’s more than the loan taken

malali:
Even if you raise 100 billion dollars.

As long as there are a few Nigerians with 10 billion naira cash at home, they will change it to dollars in no time.

And we are back to square one......The Banks are complicit as well, our banks need the "sanusi" treatment, Flush out culpable CEO/MD's

You have to address the looters, the corrupt officials, the money launderers, the currency traffickers, the currency hoarders.

Stop pretending they dont exist or they are untouchable.

These people are making a fool of your government and your strategies. You are now spending more than the "removed" subsidy to stabilize the naira....lol

Unfortunately, forex hoarders have increased. Most Nigerians that were unaware or unconcerned about the naira-dollar disparity are now aware. Also, diasporans now understand they make loses by investing in naira. Honestly, I don't know what this government can do. But borrowing dollars to stabilize naira to dollar exchange rate is a short-term solution.

Sigh

Lol