President Bola Ahmed Tinubu has said Nigeria is not only ready for business but also prepared to welcome investments.
The president said this on Thursday in Paris – France while receiving President and Chairman of the Board of Directors of African Export-Import Bank (Afrexim), Prof. Benedict Oramah, and President of European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, in separate meetings, on the sidelines of the Summit for New Global Financing Pact.
“We are ready for business, prepared to welcome investments,” he said, while adding that ongoing reforms, starting with removal of fuel subsidy and streamlining of exchange rate, would be sustained for a more competitive economy that attracts Foreign Direct Investment (FDI).
He urged investors to take advantage of opportunities in Nigeria.
President Tinubu, in a statement issued by his spokesman, Dele Alake, assured the delegation of AfreximBank executives led by Dr Oramah that the federal government will continue to stimulate the economy with policies that support investments in areas of Nigeria’s competitive advantage, particularly agriculture.
“Nigeria is blessed with human and material resources,’’ President Tinubu told the delegation, who had earlier listed areas of intervention to buoy the economy, like infrastructure, health, energy and agriculture.
The president of AfreximBank commended President 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.
Dr Oramah 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.
In the meeting with the EBRD, President Tinubu said Nigeria’s economy was too large and potent to be ignored, adding, “Ignoring Nigeria will be a peril to the universe.”
Renaud-Basso said it would be a mistake for the development bank not to invest in Nigeria, after considering six potential economies for investment.