By Ayo Onikoyi

The Chairman and CEO of Prince Luxury Group, Prince Omoha Nduka, has hailed President Bola Tinubu’s administration’s decision to eliminate the multiple foreign exchange rates and introduced a unified exchange rate in the country instead.

President Tinubu had on May 29, in his inauguration speech, said that he would eliminate Multiple Exchange Rates and replace it with a Unified Exchange Rate.

Omoha while speaking with our Correspondent in a Webinar hosted by the Nigeria Entrepreneurship Forum, commended Bola Tinubu’s successful one month in office and praised his quick actions to address the lack of easy access to foreign exchange, describing it as a wish come true for Nigerians and investors.

According to him, the long-standing issue has been a challenge for foreign investors, saying the decision will now unleash foreign investments in the country.

“The free market will bring devaluation that can make real estate assets and other sectors more affordable for foreign investors, potentially attracting increased foreign investment in the sector. This influx of foreign capital can stimulate development, boost construction activities, and drive market growth.

He regretted that the lack of easy access to foreign exchange and higher exchange in the black market had prevented many investors from dealing with the company which had subsequently slowed the operation of the company over the years.

The award-winning investor said the unification of exchange rate will attract Foreign Direct Investment (FDI) and as well boost the nation’s economy. He further congratulated the newly appointed Service Chiefs and urged them to implement a tactical policy to end insecurity in some parts of the country.

“Bola Tinubu Administration so far has improved immensely in making impactful policies that will subsequently revamp the economy. I look forward to a tactical policy in the area of insecurity.

You know one thing every investor’s worried about is the safety of their investments, security is like honey, it attracts so many good things. Once security is guaranteed, investors will troop in and the economy will skyrocket. It’s as simple as that.

The astute young entrepreneur is one of Nigeria’s leading real estate entrepreneurs and investors. He is the chairman and founder of Prince Luxury Group (PLG) and Prince Omoha Foundation (POF).

He has received many awards, one of which is the African Young Entrepreneur and Humanitarian Personality of the Year award, an award reserved for young Africans in recognition of their outstanding display of excellence in effective leadership in entrepreneurship development and humanitarian activities on the continent.