Nigerian President Bola Ahmed Tinubu, in response to the escalating economic challenges facing Nigerians, convened a high-profile meeting on Sunday at the Presidential Villa in Abuja, featuring key figures from the organised private sector.
Among the prominent attendees were Alhaji Aliko Dangote, President of Dangote Group; Tony Elumelu, Chairman of Heirs Holdings and Transcorp Plc; Abdulsamad Rabiu, Chairman of BUA Group; Wale Tinubu, and other influential members of the private sector.
The urgency of the meeting is underscored by the profound economic hardships confronting Nigerians, largely attributed to the steep rise in the exchange rate of the US dollar to the Nigerian naira. According to recent data gleaned from FMDQ, the naira experienced a significant depreciation, closing at N1,665.50 per US dollar on Friday, compared to N1571.31 the previous day, accentuating the economic strain felt across the nation.
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