The President promised to maintain Nigeria’s current reforms in order to make the country’s economy more competitive and FDI-attractive.
President Bola Tinubu declares that Nigeria is open for business and implores foreign investors to take advantage of the possibilities and ongoing reforms in the nation.
The President assured investors on Thursday in Paris, France, that continuing reforms, such as the elimination of fuel subsidies and the unification of the currency rate, will be maintained for a more competitive economy that draws Foreign Direct Investment (FDI).
In separate meetings on the fringes of the Summit for a New Global Financing Pact, he welcomed Prof. Benedict Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank (Afrexim), and Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD).
According to a statement by Dele Alake, the President’s Special Adviser on Special Duties, Communication, and Strategy, Tinubu gave the delegation of Afreximbank Executives assurances that the Federal Government would continue to stimulate the economy with policies that support investments in sectors where Nigeria has a competitive advantage, particularly agriculture.
Tinubu continued, “We need reforms for national survival. It would take daring and fortitude to restructure the economy.
“We must foster recovery in order to ensure the progress and prosperity of our people, which is imminent. Nigeria is prepared for international trade, and we have undergone complete transformation.
The team had earlier mentioned areas for interventions to boost the economy, including as infrastructure, health, energy, and agriculture, when the President said, “Nigeria is blessed with human and material resources.”
Assuring the Nigerian leader of full support from the financial and development institution on the ongoing changes, the president of AfreximBank praised Tinubu for the actions taken to abolish the gasoline subsidy and unify the currency rate.
