Governor Peter Mbah of Enugu State has scored President Bola Ahmed Tinubu’s economic policies high, saying they are good for foreign direct investment (FDI).
Mbah also stated that the unified foreign exchange rate policy is having a positive influence on Enugu State’s drive for FDI.
The Governor said these after a closed-door meeting with President Tinubu at the Presidential Villa, Abuja, on Tuesday evening
One of the key aspects highlighted by Governor Mbah is the unified foreign exchange rate policy implemented by President Tinubu’s administration. The governor pointed out that this policy is proving to have a beneficial impact on Enugu State’s efforts to attract foreign direct investment. A unified foreign exchange rate provides a transparent and predictable framework for businesses and investors, reducing uncertainties that could hinder investment decisions.
The unified foreign exchange rate policy ensures that there is consistency and fairness in currency exchange, creating a conducive environment for both local and international investors. Governor Mbah’s recognition of this policy’s positive influence reflects a broader acknowledgment of the importance of stable and predictable economic conditions in fostering investment.
Foreign direct investments play a crucial role in the economic development of states and nations. These investments bring in capital, technology, and expertise, stimulating economic growth and creating employment opportunities. Governor Mbah’s commendation of President Tinubu’s economic policies underscores their alignment with the goal of attracting and facilitating foreign direct investment in Enugu State.
Investors are inherently risk-averse and seek stability and predictability when considering where to invest their resources. President Tinubu’s economic policies, as recognized by Governor Mbah, contribute to creating a stable and predictable economic environment. This is vital for building investor confidence and encouraging long-term commitments.
The governor said these after a closed-door meeting with President Tinubu at the Presidential Villa, Abuja, on Tuesday evening.
“Some of the Federal Government’s economic policies, such as the removal of fuel subsidies, were tough on the citizens in the immediate; they were bold therapies for the nation’s troubled economy and would greatly benefit the citizens ultimately.
“It is essentially to commend the president because a lot of things that he is doing at the national level are also rubbing off well on us at the state level—policies like the unification of the foreign exchange rate. What that simply means is that you are going to have a lot of FDI coming in, and we are also going to benefit from that.”
He further disclosed that Enugu State is safe for investors to bring in their investments, assuring that south-east Nigeria is ready for investment.
Mbah said that the issue of sit-at-home and the attendant insecurity facing the southeast region of Nigeria have been sufficiently dealt with.
According to him, the Enugu State Government is working towards the construction of the cargo terminal and completion of the international wing of the Akanu Ibiam International Airport, Enugu, through collaborations with the federal government.
