Forex Crisis: Let Cardoso be, you all cannot be Experts – Tinubu Tells Governors
President Tinubu has urged the governors of the 36 states of the federation and critics to trust the Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, with the management of the country’s monetary policy, emphasising the importance of allowing designated institutions to fulfil their mandate effectively.
The President made the plea at a meeting with 36 state governors, attended by Vice-President Kashim Shettima, the National Security Adviser, Nihu Ribadu, the Inspector-General of Police, Kayode Egbetokun, the Director-General of the Department of State Services (DSS), Yusuf Bichi, and some ministers at the State House in Abuja on Thursday.
He said the ”cacophony of postulations” on the fluctuation of foreign exchange rates was unduly affecting the market negatively.
”Every one of us can not be an expert. If we have given someone an assignment, let us allow them to do it. If they can not do it, then we find a way to quickly get them out of the system,” the President said.
President Bola Tinubu has said his administration is evolving home-grown solutions to address the nation’s food security challenges by setting up schemes to support local production and discourage all forms of rent-seeking that are associated with food importation.
On security, President Tinubu approved the establishment of a committee comprising state governors and representatives of the federal government to, among other things, explore the modalities for establishing state police.
The President further endorsed the training and equipping of forest rangers by sub-national governments to safeguard human and natural resources in local communities.
“My position at this meeting is that we must move aggressively and establish a committee to look critically at the issues raised, including the possibility of establishing state police.
”From Kano, we have read reports about large-scale hoarding of food in some warehouses. The National Security Adviser (NSA), the Inspector-General of Police, and the Director-General of the Department of State Services should coordinate very closely and ensure that security agencies in the states inspect such warehouses with follow up action.
”We must ensure that speculators, hoarders, and rent seekers are not allowed to sabotage our efforts in ensuring the wide availability of food to all Nigerians.
“What I will not do is to set a price control board. I will not also approve the importation of food. We should be able to get ourselves out of the situation we found ourselves in, because importation will allow rent seekers to perpetrate fraud and mismanagement at our collective expense. We would rather support farmers with the schemes that will make them go to the farm and grow more food for everyone in the country.
”We must also look at the rapid but thoughtful implementation of our livestock development and management plans, including dairy farming and others,” the President stated.
President Tinubu asked the governors to always make the welfare and prosperity of the people a priority of their development programmes, assuring them that the federal government will continue to work diligently to improve the nation’s revenue profile.
At the meeting, the President and the governors emphasised the importance of working together to address issues of insecurity, food security, and out-of-school children.
Governor AbdulRahman AbdulRazaq of Kwara State and Chairman of the Nigeria Governors’ Forum (NGF) expressed appreciation to President Tinubu for convening the meeting and affirmed the governors’ commitment to partnering closely with the federal government.
