Senator Ali Ndume (APC Borno South) has hailed the recent bold de-dollarisation policy of President Bola Tinubu-led federal government by describing it as “right steps in the right direction.”
Ndume who made the commendation through a personally signed statement in Abuja on Saturday, also hailed the recent cabinet reshufflement carried out by the President even as he called for removal of some other ministers.
According to Ndume, the de – dollarisation policy of President Tinubu will strengthen the naira and boost transatlantic trades with other nations of the world who don’t depend on the United States dollar.
He urged the President to follow it up to a logical conclusion by making Nigeria join BRICS (Brazil, Russia, India, China, South Africa).
De-dollarisation is the process by which countries look for alternate methods of conducting international trade and financial transactions and lessen their reliance on the United States dollar as the main global reserve currency.
Ndume said the move will help Nigerian businessmen and women who, for instance, import goods from China to jettison the United States dollar and put less pressure on the naira.
“That policy announced by the administration of President Bola Tinubu must be commended.
“If it is fully implemented, it will drastically reduce the pressure on the naira, and our international businessmen and women who import goods from countries like China will not depend on the United States dollar.
“The policy will also assist the naira in appreciating significantly. This will help us as a country in so many ways. So, I commend the President for taking these economic bold steps at a time like this,” he said.
He also called on President Tinubu to convoke a National Economic Conference, to be handled by Ministry of Budget and Economic Planning; National Economic Adviser and renowned Nigerian economists to proffer home-grown solutions that will assist the federal government.
Ndume listed Okonjo Iweala, Oby Ezekwesili, Mansur Muktar, Akinwumi Adesina, Aruma Oteh, Tope Fasua, among others as respected and internationally-acclaimed people that will drive the economic summit.
“This national economic summit should be purely led by these eminent Nigerians, and they’ll come up with recommendations instead of the IMF and World Bank’s prescriptions that are harsh and hard on ordinary citizens.
“I believe if the recommendations are good, President Tinubu will implement them, and this will help the country in no small ways,”, he added.
The lawmaker, in the statement, described the masterstroke of President Tinubu in the rejigging of the Federal Cabinet, and particularly hailed the establishment of the Ministry of Regional Development to oversee all regional commissions in the country.