Chrys
President Bola Tinubu says Nigeria is now ready for global
business as ongoing reforms will be sustained for a more competitive economy
that attracts foreign direct investment (FDI).
Tinubu spoke on Thursday, in separate meetings on the
sidelines of the New Global Financial Pact Summit in France’s Palais
Brongniart.
According to a statement by Dele Alake, special adviser to
the president on special duties, communication, and strategy, Tinubu spoke with
Benedict Oramah, president and chairman of the board of directors of African
Export-Import Bank (Afrexim), and Odile Renaud-Basso, president of European
Bank for Reconstruction and Development (EBRD).
“We are ready for business, prepared to welcome
investments,’’ he said.
Tinubu assured the delegation of Afrexim Bank executives,
led by Oramah, that the federal government 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 added, noting
that it would take boldness and courage to reposition 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,” he said.
“Nigeria is blessed
with human and material resources.”
On his part, Oramah commended Tinubu for the bold steps in
removing the petrol subsidy and unification of the exchange rate.
He assured of the finance and development institution’s full
support for the ongoing reforms.
Oramah said the bank was already building the first African
specialist hospital in Abuja, and an energy bank, pledging to inject more money
into the economy to further build confidence of investors.
During his meeting with Renaud-Basso, Tinubu reiterated his
administration’s willingness to liberalise the economy to attract more
investment.
“We are challenged in terms of reforms, and we have taken
the largest elephant out of the room with the removal of fuel subsidy, and
multiple exchange rates are equally gone. We are determined to open up the
economy for business. Consider us a stakeholder in the bank,” he said.
He told the EBRD president that Nigeria’s economy was too
large and potent to be ignored, adding that “ignoring Nigeria will be a peril
to the universe’’.
On her part, Renaud-Basso said it would be a mistake for the
development bank not to invest in Nigeria, after considering six potential
economies for investment.
She explained that the focus would be on the private sector,
especially small and medium-scale enterprises (SMEs).
