On Thursday in France, President Bola Tinubu declared that Nigeria was prepared to conduct business and accept investments from foreign investors.
He based this on the existing reforms, which he promised to maintain for a more competitive economy that welcomes foreign direct investment. These changes include the elimination of fuel subsidies and the streamlining of the currency rate.
He therefore recommended investors to seize the subsequent possibilities.
“We are ready for business, prepared to welcome investments,” Tinubu said, while receiving President and Chairman of the Board of Directors of African Export-Import Bank, Prof. Benedict Oramah and President of European Bank for Reconstruction and Development, Odile Renaud–Basso, in separate meetings, on the sidelines of the Summit for New Global Financing Pact.
This information was provided by Dele Alake, the President’s Special Adviser on Special Duties, Communication, and Strategy, in a statement he released on Thursday under the heading “We’re ready for business, prepared to welcome investors to Nigeria, President Tinubu tells AfreximBank, EBRD Presidents in Paris.”
The Federal Government would continue to stimulate the economy with policies that promote investments in sectors where Nigeria has a competitive advantage, particularly agriculture, the Nigerian leader informed the team of AfreximBank executives led by Prof. Oramah.
“We need reforms for national survival,’’ he added, noting that it would take boldness and courage to reposition the economy, calling for more collaboration to solidify the economy.
“We must stimulate recovery for the growth and prosperity of our people, which will not be far away. Nigeria is ready for global business and our reform is total.
“Nigeria is blessed with human and material resources,’’ President Tinubu told the delegation, who had earlier listed infrastructure, health, energy and agriculture as areas of interventions to buoy the economy.
Assuring the Nigerian leader of the full support of the financial and development institution for the ongoing reforms, Prof. Oramah praised Tinubu for taking the courageous steps to abolish the gasoline subsidy and unify the exchange rate.
In order to further boost investor trust, he said that Energy Bank had already begun construction on the first African Specialist Hospital in Abuja.
The President stated, “We are challenged in terms of reforms, and we have removed the largest elephant from the room with the abolition of fuel subsidy, and numerous exchange rates are equally gone.
