Tinubu woo investors
EKO HOT BLOG reports that President Bola Tinubu has delivered a resounding assurance to potential investors, guaranteeing the safety of their investments in Nigeria.
Speaking at the Saudi-Africa Summit in Riyadh, he asserted Nigeria’s readiness for business and highlighted the potential for some of the world’s highest returns on investment.
Furthermore, the President conveyed Nigeria’s commitment to enhancing cooperation with the Kingdom of Saudi Arabia in addressing terrorist organizations such as Boko Haram, ISWAP, and other violent extremist groups prevalent in the Lake Chad and Sahel regions.
“Nigeria and Saudi Arabia have always enjoyed a special relationship at both the bilateral and multilateral levels. Within the past six decades, our bilateral cooperation, which was initially hajj-centric, has witnessed diversification to cover a number of areas of common interest. It is delightful to note the presence in this great Kingdom of a large number of our compatriots and professionals, including highly-skilled medical practitioners and professional football players.
“As members of several international organizations including the UN, the Organization of Petroleum Exporting Countries, the International Energy Forum, the G77, the Islamic Development Bank, the Digital Cooperation Organization among others, our two nations have effectively used these and other platforms to enhance close interaction and coordination. I am confident that our joint positive disposition within these platforms will continue to be demonstrated as we seek to advance our mutual interests.
“Nigeria, like the Kingdom, is diversifying her economy away from oil dependence to promote sustainable development. My administration has undertaken bold economic reforms by removing wasteful subsidies on petroleum and the merging of our foreign exchange market, among other incentives aimed at improving the ease of doing business in Nigeria.
“I also wish to assure all potential Saudi investors of the safety of their investments based on the sanctity of the rule of law and good returns on their investments in the largest economy in Africa. In this regard, the benefit attached to the early inauguration of the Nigeria-Saudi Business Council can not be over-emphasized,” the President said.
President Tinubu expressed gratitude to the Kingdom for its diverse humanitarian interventions in Nigeria facilitated by the King Salman Humanitarian Aid and Relief Centre.
Addressing the impact of climate change on Africa, President Tinubu highlighted that it has accelerated desertification and caused recurrent flooding not only in Nigeria but also in numerous other African nations.
He commended the Kingdom for its diverse initiatives in combating the impacts of climate change, emphasizing that Nigeria is actively engaged in several initiatives to address both the effects of climate change and energy poverty.
“Recently, we launched a data-driven Energy Transition Plan which sets forth a clear carbon reduction policy and targets net-zero emissions by the year 2060 while also setting out our plans for industrialization using new energy systems and universal access to modern energy services.
“Mr. Chairman, let me also take this opportunity to reiterate Nigeria’s full support for the Kingdom’s bids to host the 2030 World Expo in Riyadh and the 2034 FIFA Senior Men’sWorld Cup, the latter of which is now all but guaranteed to succeed,” the President said.
Regarding the Middle East, especially in Palestine, the President restated Nigeria’s plea for an instant ceasefire and the pursuit of a peaceful resolution to the conflict.
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