President Bola Ahmed Tinubu on Tuesday sought the assistance of the Bank of America and other willing financing institutions to help Nigeria in various capacities, such as in partnering to ensure Nigerian gas competes favourably in the global market, as a viable source of alternative revenue
The President stated made the request while receiving officials of BOA in his office at the State House. He said his government is committed to instituting reforms that engender the sustainable growth and development of the country, according to a statement by the Special Adviser on Special Duties, Communication and Strategy, Dele Alake.
He also expressed confidence that his administration was on the pathway to success in spite of the challenges facing the country, saying Nigeria has no reason to fail the rest of the African continent.
In his remarks, the leader of the delegation and President of International for Bank of America, Mr Bernard Mensah, expressed excitement about the initial steps taken by the new administration, which, he said, is taking Nigeria back to its rightful place on the global stage.
Briefing journalists shortly after meeting the President at the Presidential Villa in Abuja, Mensah lauded Tinubu for the initial steps taken by his administration to improve the nation’s economy.
The BOA representatives expressed their willingness to support the Tinubu-led administration with ideas to advance the market (and) enhance partnerships in new technology applications, climate change solutions and deployment of global resources to the country, so Nigeria can take its seat on the global stage on these issues.
“We are excited with the new government (and) some of the early decisions that they have taken,” he said.
“We are looking to see how we can help partner. We have a lot of global resources we think we can help with the Nigerian economy.
“We think we can help think through the market, financial architecture and structure, technology applications, the whole global debate around climate and how we can bring resources to bear so that Nigeria can really take its seat on the global stage on these issues.”
Also on the team is the Head of Sub-Saharan Africa, Mrs Yvonne Ike Fasiro, as well as the Head of Investment Banking in Sub-Saharan Africa, Mr Chuba Ezenwa.
Meanwhile, the Special Adviser to the President on Monetary Policy, Mr Wale Edun, also noted observations by the BOA team that the financing and liquidity the nation requires in foreign exchange are in the hands of Nigerians.
According to him, the Bank of America further asserts that Nigerian savings are enough to propel the Nigerian economy, increase employment and reduce poverty.
Consequently, Edun said that the Federal Government will review these observations as an improvement to the economy is a work in progress and would require more planning to boost the nation’s economic policies.