President Bola Tinubu says petrol subsidy was removed in order to steer Nigeria away from bankruptcy and reset the economy towards growth.
He also noted that policies put in place for currency management were necessary, equally to remove the artificial element of value in Nigeria’s currency.
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The president, who was speaking on Sunday at the opening plenary of the Special World Economic Forum WEF, holding in Riyadh, the capital of Saudi Arabia, also called on the advanced nations to promote policies of collaboration and inclusiveness, by injecting capital to support poorer nations tackle challenges in the areas of agriculture, food security, innovation, and technological advancement.
President Tinubu also spoke about the socio-economic challenges in the Sahel region and the consequences for global stability, saying the entire world should pay attention to Sahel, and the other countries around it.
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