Tinubu Assures Foreign Investors Of Easy Fund Repatriation

President Bola Ahmed Tinubu has assured foreign investors of predictable fund repatriation, as well as the streamlining of the tax system.

The President gave the assurance on Friday when he received Letters of Credence from Hungarian Ambassador, Lorand Endreffy; Rwandan High Commissioner, Christophe Bazivamo; and Ukrainian Ambassador to Nigeria, Ivan Kholostenko, at the State House, Abuja.

He implored them to prioritise the exploration of new frontiers of trade relations that would be mutually beneficial as they carry out their duties in the country.

Speaking when he received the High Commissioner of Rwanda, the President said the long-standing concerns over trapped funds were receiving attention, adding that the funds would be processed expeditiously for release.

“We are one family on the continent. We will continue to promote democracy and good governance. I will maintain an open-door policy, and the Minister of Foreign Affairs and the Chief of Staff are also available. For the avoidance of doubt, we are already working on the issues of double taxation, and it will be properly streamlined to favour business growth. Nigeria is home and a haven for investors,” the president said in a statement by his spokesman, Ajuri Ngelale.

The Rwandan High Commissioner said the government of Rwanda was prepared to enhance bilateral relations with Nigeria through new visa policies and trade agreements.

At the ceremony, Tinubu urged the Ambassador of Hungary to explore all opportunities of building partnership, especially in the areas of agriculture and food security, and how to leverage the experience of the country in technology.

“Thank you so much for taking care of our students in your country. We are a very big country, with huge potential to sustainably spur economic growth. We are ready to improve relations, especially in the areas of agriculture and food security,” the President said.

The Hungarian ambassador commended the President for his courageous and strategic decisions to reposition the Nigerian economy, listing some areas of collaboration to include education, agriculture, food security, security, and medical technology.

“My Prime Minister always says that our relations are based on mutual respect,’’ he said.

Also, Tinubu told the Ukrainian Ambassador that Nigeria would always work for global peace and harmony.

“We are with you in prayers. We will continue to support good governance and democracy,’’ the President stated.