Tinubu’s main purpose in France is to network for foreign investments – Alake

Spread the love

Paris, June 22, 2023 -Dele Alake, the Special Adviser to President Bola Tinubu on Communication and Strategy, says the main purpose of the president’s visit to France is to network with international financial institutions, investors and world leaders.

He said the President would be seeking collaborations and partnerships in areas like agriculture, infrastructure, etc.

Alake said these while speaking to journalists on the sideline of the Global Financial Pact summit which opened in Paris on Thursday,

“The essence is to network as much as it is feasible as much as it is practicable.

“The President wants to network with international finance corporations, institutions, and countries that could facilitate direct foreign investment into Nigeria,” he said.

Alake said there was the need to inject foreign direct investments into the economy to cushion the immediate effects of foreign exchange rate unification until the market would stabilise.

“However, in the short run, we have noticed that and expect there will be a spike in demand and that will affect the value of the naira.

“Apart from the immediate short and long-term effects of that unification policy, there could be a need for an injection of direct foreign exchange into the economy to shore up the value of the naira, while market forces stabilise,” Alake said.

The meeting, which ends on Friday, is being attended by more than 40 leaders.

It is also being attended by international financial organizations like the World Bank, IMF, African Development Bank, Afreximbank, Asian Development Bank, among others. (GBN)

Leave a Reply

Your email address will not be published. Required fields are marked *