President Bola Tinubu has urged investors to take advantage of the diverse opportunities in Nigeria.
The President made the call while receiving the president of the African Export-Import Bank, Afreximbank, Dr Benedict Oramah and the president of the European Bank for Reconstruction and Development, EBRD, Odile Renaud–Basso, in separate meetings, on the sidelines of the summit for the new global financial pact in Paris.
President Tinubu told Oramah that the ongoing reforms of his administration will be sustained for a more competitive economy that attracts foreign direct investment, FDI.
He said his government will continue to stimulate the economy with policies that support investments in areas of Nigeria’s competitive advantage, particularly agriculture.
“We need reforms for national survival. 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. We are ready for business, prepared to welcome investments,” the President stated.
In his remarks, the President of Afreximbank commended President Tinubu for the bold steps in removing the petrol subsidy and the unification of the exchange rate.
Assuring the President of his full support of the ongoing reforms, Dr Oramah said the bank was already building the first African specialist hospital in Abuja and an energy bank.
Similarly, in the meeting with the EBRD, President Tinubu called for more collaboration between his administration and the bank to solidify Nigeria’s economy.
He said, “We are challenged in terms of reforms, and we have taken the largest elephant out of the room with the removal of fuel subsidy, and multiple exchange rates are equally gone. We are determined to open up the economy for business. Consider us a stakeholder in the bank.”
He told Renaud–Basso that Nigeria’s economy was too large and potent to be ignored, adding that “Ignoring Nigeria will be a peril to the universe.”
The EBRD President agreed that it would be a mistake for the development bank not to invest in Nigeria, after considering six potential economies for investment.
She explained that the focus would be on the private sector, especially Small and Medium Scale Enterprises, SMEs.
President Tinubu left for France on Wednesday to attend the two-day global financial pact summit convened by President Emmanuel Macron.
The summit began yesterday and will end today. President Tinubu, who was accompanied to France by members of the presidential policy advisory council and some senior government officials, is expected to return to Nigeria on Saturday.
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