Former Senate leader, Senator Ali Ndume of the APC for Borno South, has expressed strong support for President Bola Tinubu’s recent de-dollarisation policy, describing it as “the right steps in the right direction.” Ndume believes that this policy will enhance the strength of the naira and facilitate transatlantic trade with nations that do not rely on the US dollar.
In a statement released to journalists in Abuja on Saturday, Ndume emphasized that if effectively implemented, the de-dollarisation initiative would relieve pressure on the naira, particularly benefiting Nigerian importers dealing with countries like China by allowing them to move away from dollar dependence.
“The policy will also assist the naira in appreciating significantly,” Ndume noted, praising the President for taking bold economic measures at a critical time.
Ndume further urged President Tinubu to convene a National Economic Conference, spearheaded by the Ministry of Budget and Economic Planning, the National Economic Adviser, and respected Nigerian economists. He suggested that this summit should be led by eminent figures like Okonjo Iweala and Akinwumi Adesina to formulate home-grown solutions rather than relying on the often harsh prescriptions of the IMF and World Bank.
In addition to his economic recommendations, Ndume previously called on President Tinubu to employ military contractors to combat Boko Haram terrorists in Borno State, while commending efforts to enhance the Air Force’s capabilities through the acquisition of military planes and helicopters.
Ndume praised Tinubu’s recent cabinet reshuffle and the establishment of a Ministry of Regional Development, noting that while progress has been made, more action is necessary to ensure ministers are actively contributing to their roles. He highlighted the President’s commitment to reducing governance costs amid economic challenges as a commendable move.