Investors Funds Are Safe,Tinubu Promised
In Riyadh, Saudi Arabia, President Bola Ahmed Tinubu delivered a message of assurance to potential investors on Saturday, emphasizing the removal of obstacles that had previously hindered the smooth flow of funds in and out of Nigeria.
President Tinubu anchored his reassurances on significant reforms implemented by his administration, notably the discontinuation of petrol subsidy and the unification of the exchange rate. Addressing the Captains of the Saudi Arabian industry at the Nigeria-Saudi Investment Roundtable, he expressed confidence in the revamped economic landscape.
“Your money will flow easily in and easily out. The arbitrage around our nation’s old foreign exchange policy regime and the corruption that was associated with it is also gone,” stated the President during the opening talks.
Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, relayed this information in a statement titled ‘President Tinubu to Nigeria-Saudi investment roundtable: All bottlenecks will be crushed and your funds will come in and go out without hindrance.’
President Tinubu affirmed that his team of ministers and aides were diligently working to eliminate every negative notion about Nigeria’s business climate, focusing on ease, monetary policy, and trade cooperation. Declaring Nigeria “open for business,” he asserted, “I believe in this team that I have brought from Nigeria.”
Highlighting the proactive approach taken since assuming office, Tinubu emphasized, “We have executed [bold and fundamental economic reforms], and we sustain the reform process. Today, I declare that red tape is gone! I believe in the full application of free market economics. We took on those bold endeavors from day one in preparation for serious investors like you seated here.”
Assuring the Saudi business community of Nigeria’s potential, Tinubu asserted that the country possesses a ripe market and human capital conducive to investors’ prosperity.
Responding to the President’s remarks, Saudi Arabia’s Trade and Investment Minister, Kahlid El-Falih, commended Tinubu’s passion and candid expression. El-Falih indicated that, following Tinubu’s impromptu remarks, the Saudi investment community is poised to respond with substantial new investments across various sectors of the Nigerian economy.
“The Minister of Commerce and I will be visiting Nigeria either before the end of this year or very early next year with a very large delegation of Saudi CEOs from all key sectors. We know you are ready for business, so we do not want to come to Nigeria for any exploratory discussion. We are coming for implementation. It is an action visit,” asserted El-Falih.
Source: Punchng
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