President Bola Tinubu of Nigeria expressed the country’s readiness to engage in business and attract foreign investments. He emphasized ongoing reforms such as the elimination of fuel subsidy and the streamlining of the exchange rate, which he intends to sustain in order to create a more competitive economy. Tinubu encouraged investors to seize the opportunities arising from these reforms. The statement was made during separate meetings with the President and Chairman of the Board of Directors of the African Export-Import Bank and the President of the European Bank for Reconstruction and Development in France.
Tinubu’s Special Adviser on Special Duties, Communication, and Strategy, Dele Alake, confirmed the President’s stance in a statement. Tinubu assured the African Export-Import Bank delegation that the Nigerian government would continue to implement policies that support investment in sectors where the country has a competitive advantage, particularly agriculture. He stressed the need for reforms to ensure national survival and called for collaboration to strengthen the economy.
The delegation from the African Export-Import Bank praised Tinubu for the bold steps taken in removing the fuel subsidy and unifying the exchange rate. They pledged their full support for the ongoing reforms and announced plans to invest more in the Nigerian economy, including the construction of an African Specialist Hospital in Abuja and the establishment of an Energy Bank. During the meeting with the European Bank for Reconstruction and Development, Tinubu highlighted the successful removal of the fuel subsidy and the elimination of multiple exchange rates as significant milestones in Nigeria’s reform efforts.
punch.