President Tinubu Confers Akpabio, Abbas, CJN, Others With National Honours As FDI Attracts Over $30b
By Our Reporter
President Bola Tinubu has conferred national honours on the leadership of the National Assembly as well as the Chief Justice of the Federation.
He said the Senate President, Senator Godswill Akpabio and the Chief Justice of the Federation, Justice Kudirat Kekere-Ekun have been conferred with the Grand Commander of the Order of the Niger (GCON).
He made the disclosure Tuesday in a nation-wide broadcast on the occasion of Nigeria’s 64th Independence anniversary.
According to him, the deputy Senate President, Senator Barau Jibrin and Speaker of the House of Representatives, Dr. Tajudeen Abbas have been conferred with the Commander of the Order of the Federal Republic (CFR), while the deputy speaker of the House of Representatives, Benjamin Kalu has been awarded Commander of the Order of Niger (CON).
President Tinubu noted that as is the tradition, the government will soon announce all the beneficiaries of the 2024 national honours.
On the economy, President Tinubu said is undergoing the necessary reforms and retooling to serve us better and more sustainably.
“If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences,” he said.
According to him, the reforms have attracted foreign direct investments worth more than $30 billion in the last year.
Besides, the President pointed out that the administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of regulatory processes.
He said the principle guides the divestment transactions in the upstream petroleum sector, where it is committed to changing the fortune positively.
As such, he said, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA which was done in the same manner as other qualified divestments approved in the sector.
President Tinubu assured that the move will create vibrancy and increase oil and gas production, positively impacting the economy.
He said the more disciplined approach adopted by the Central Bank to monetary policy management has ensured stability and predictability in our foreign exchange market.
“We inherited a reserve of over $33 billion 16 months ago. Since then, we have paid back the inherited forex backlog of $7 billion. We have cleared the ways and means debt of over N30 trillion. We have reduced the debt service ratio from 97 per cent to 68 per cent,” the President said.
