Tinubu Says Oil Smuggling, Forex Rackets Now Unattractive Under His Administration

President Bola Tinubu has declared that his administration has made significant strides in curbing economic leakages, particularly by making oil smuggling and speculative forex dealings unattractive.

Speaking on Thursday during an interaction with Nigerians residing in Saint Lucia, the president highlighted what he described as key economic successes of his government, despite inheriting what he termed a near-bankrupt economy.

“We took over a country that was almost bankrupt, but we have managed to revive the economy. Oil smuggling is no longer attractive, and the days of chasing forex papers at the Central Bank are over,” Tinubu said.

The meeting, which was held at the official residence of Saint Lucia’s Prime Minister, Philip J. Pierre, was organized by the Nigerians In Diaspora Commission (NIDCOM), led by Abike Dabiri-Erewa. Tinubu later met with more Nigerians at the Windjammer Resort, where he stayed during his state visit.

The president acknowledged that Nigeria’s per capita income remains low, but assured that his administration is committed to improving it through reforms and economic stability.

Tinubu also promised to look into some of the diplomatic and welfare issues affecting Nigerians living in Saint Lucia, emphasizing that his administration values the contributions of the diaspora.

Earlier, Dabiri-Erewa commended the Nigerian community in Saint Lucia for their positive impact and urged them to remain connected to their homeland.