President Bola Ahmed Tinubu emphasized Nigeria’s readiness for business and expressed a warm reception to investments during his visit to Paris, France on Thursday. The president made these remarks while meeting separately with President and Chairman of the Board of Directors of African Export-Import Bank (Afrexim), Prof. Benedict Oramah, and President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, on the sidelines of the Summit for New Global Financing Pact.
Asserting the country’s preparedness, President Tinubu stated, “We are ready for business, prepared to welcome investments.” He further highlighted ongoing reforms, including the removal of fuel subsidies and the streamlining of the exchange rate, which are aimed at fostering a more competitive economy and attracting Foreign Direct Investment (FDI).
President Tinubu urged investors to seize the opportunities available in Nigeria, emphasizing the country’s immense potential and resources. In a statement issued by his spokesperson, Dele Alake, the president assured the delegation from AfreximBank, led by Dr. Oramah, that the federal government would continue implementing policies to stimulate the economy, particularly in areas where Nigeria holds a competitive advantage, such as agriculture.
Recognizing Nigeria’s vast economic potential, President Tinubu welcomed the EBRD delegation and stated, “Ignoring Nigeria will be a peril to the universe.” Renaud-Basso, in response, acknowledged the significance of Nigeria’s economy and expressed the bank’s interest in investing. After considering six potential economies for investment, Renaud-Basso affirmed that it would be a mistake for the development bank to overlook Nigeria.
During the meetings, Dr. Oramah of AfreximBank commended President Tinubu for the bold steps taken in removing fuel subsidies and unifying the exchange rate. He assured the Nigerian leader of the full support of the financial institution in ongoing reforms. Dr. Oramah also revealed the bank’s plans to establish the first African Specialist Hospital in Abuja and an Energy Bank, underscoring the institution’s commitment to injecting more funds into the economy and fostering investor confidence.
President Tinubu’s engagements with AfreximBank and EBRD highlight Nigeria’s determination to attract investments and create an environment conducive to economic growth. The government’s ongoing reforms and focus on key sectors such as infrastructure, health, energy, and agriculture demonstrate a commitment to leveraging Nigeria’s strengths and propelling its economy forward. With its abundant resources and potential, Nigeria continues to position itself as an attractive investment destination on the global stage.
- President Tinubu Heads Nigerian Delegation to G20 Compact with Africa Conference in Berlin
- President Bola Tinubu Suspends Godwin Emefiele as Central Bank Governor Amid Ongoing Investigation and Financial Sector Reforms
- President Tinubu Establishes Committee on Fiscal Policy and Tax Reforms
- President Bola Tinubu Embarks on London Visit Following Summit in Paris
- I have no sympathy for Emefiele – Chidi Odinkalu