fbpx

Invest in Nigeria, we offer secure investment climate, high returns, Tinubu tells Saudi investors

President Bola Tinubu, during the Saudi-Africa Summit in Riyadh, assured potential investors of the safety of their investments in Nigeria. Emphasizing Nigeria’s readiness for business, Tinubu highlighted the country’s potential for some of the world’s highest returns on investment.

Additionally, he expressed Nigeria’s commitment to collaborating with Saudi Arabia in addressing security challenges, particularly in combating terrorist organizations like Boko Haram, ISWAP, and other violent extremist groups in the Lake Chad and Sahel regions.

Tinubu underscored the longstanding special relationship between Nigeria and Saudi Arabia at both 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 thanked the Kingdom for the various humanitarian interventions in Nigeria through the King Salman Humanitarian Aid and Relief Centre.

Speaking on climate change and how it affects Africa, President Tinubu said climate change has led to an expedited rate of desertification and incessant flooding in Nigeria and many other countries of Africa.

He commended the efforts of the Kingdom for its various initiatives to fight the effects of climate change, adding that Nigeria is also working on a number of initiatives to fight 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.

On the situation in the Middle East, particularly in Palestine, the President reiterated Nigeria’s call for an immediate ceasefire and the pursuit of a peaceful resolution to the conflict”

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.