In a significant diplomatic move, President Bola Tinubu is scheduled to hold bilateral meetings with the leaders of France, the United States of America, Sweden, Switzerland, and other nations at the highly anticipated Paris Financial Pact Summit, set to commence this Thursday. This development underscores the growing importance of Tinubu's administration and its economic policies, which have attracted international attention and recognition since assuming office.

Dele Alake, the Special Adviser to the President on Special Duties, Communication, and Strategy, revealed this exciting news during an exclusive interview with journalists in the vibrant city of Paris. Alake confirmed that several influential countries, including the United States, France, Switzerland, and others, are keen to engage in discussions with President Tinubu, alongside numerous international financial institutions. The President's visit to Paris marks his first foreign trip since taking office and presents an exceptional opportunity to establish critical networks and foster foreign direct investment in Nigeria.

Alake emphasized the importance of President Tinubu's interaction with international finance corporations and countries, highlighting their potential to facilitate significant foreign direct investment inflows into Nigeria. He underscored the bold steps already taken by the President in various economic sectors and social engineering, particularly in unifying multiple exchange rates, which has yielded highly positive effects on the Nigerian economy.

In addition to the immediate, medium, and long-term benefits of the unification policy, Alake emphasized the necessity of injecting foreign exchange directly into the economy to stabilize the value of the Nigerian currency, the naira, while simultaneously allowing market forces to operate effectively. Notably, the recent lifting of restrictions on spending through domiciliary accounts has already instilled confidence in Nigeria's foreign exchange system, encouraging both foreign residents and domestic individuals who had been apprehensive about potential restrictions to bring their dollars into the financial system.

Despite these notable achievements, Alake stressed the importance of further injecting foreign exchange into the Nigerian economy to complement domestic policies effectively. He underscored the primary objective of the forthcoming global summit, which gathers heads of state from developed societies to discuss Nigeria's affairs and contribute to bolstering the nation's economy, all of which have been significantly influenced by President Tinubu's recent policies.

The highly anticipated Paris Summit, taking place over two days, will witness President Tinubu joining other world leaders in reviewing and signing the New Global Financial Pact. This historic agreement prioritizes support and investment for vulnerable countries grappling with the detrimental impacts of climate change, the energy crisis, and the COVID-19 pandemic. During the summit, leaders will collaborate to mobilize innovative financing for climate-vulnerable nations, foster development in low-income countries, and promote investment in sustainable "green" infrastructure. These efforts aim to facilitate the energy transition in emerging and developing economies, ensuring a more sustainable and prosperous future for all.

President Tinubu's active participation, alongside esteemed global leaders, multilateral institutions, financial experts, and economists, will result in comprehensive discussions on the recovery of economies devastated by the COVID-19 pandemic and the urgent need to combat rising poverty rates. The summit aims to provide enhanced access to finance and investment opportunities that will foster inclusive growth, benefiting nations across the globe.

President Tinubu's productive engagements at the summit are expected to conclude on Saturday, upon which he will return to Nigeria. The international community eagerly awaits the outcomes of this diplomatic endeavor, which holds immense potential for Nigeria's economic development and its growing stature on the global stage.


(Credits: The Punch newspaper)