APA – Lagos (Nigeria) Nigerian President Bola Tinubu, has said that Nigeria is ready to do business and receive investments from foreign partners.
Speaking on the sidelines of the ongoing Summit for New Global Financing Pact on Thursday in Paris, France, Tinubu told the 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, that the removal of fuel subsidy and the streamlining of exchange rate in Nigeria were premised on the ongoing reforms and promised to sustain them for a more competitive economy that attracts Foreign Direct Investment.
He urged investors to take advantage of the ensuing opportunities.
“We are ready for business, prepared to welcome investments,” Tinubu said.
According to the statement by the President’s Special Adviser on Special Duties, Communication and Strategy, Mr. Dele Alake, on Thursday, Tinubu assured the delegation of AfreximBank Executives led by Prof Oramah that the Federal Government of Nigeria would 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,’’ he said, adding that it would take boldness and courage to reposition the Nigerian economy and called 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,’’ Tinubu said, adding that infrastructure, health, energy and agriculture are areas of interventions to buoy the Nigerian economy.
Responding, Prof Oramah commended Tinubu for the bold steps in removing the fuel subsidy and unification of the exchange rate, assuring the Nigerian leader of the full support of the financial and development institution on the ongoing reforms.
He said the bank was already building the first African Specialist Hospital in Abuja, and Energy Bank, pledging to inject more money into the economy to further build confidence of investors.
“We are challenged in terms of reforms, and we have taken the largest elephant out of the room with removal of fuel subsidy, and multiple exchange rates are equally gone,” the report by Punch newspaper on Thursday quoted the President of European Bank for Reconstruction and Development as saying during the meeting with Tinubu.
GIK/APA