President Bola Tinubu has declared that Nigeria is “open for business” and has dispelled negative perceptions regarding the ease of doing business in the country.
He made this statement during the Nigeria-Saudi Investment Roundtable in Riyadh, Saudi Arabia.
Tinubu emphasized the government’s commitment to economic reforms, the removal of red tape, and the full application of free market economics.
Tinubu assured investors that the Nigerian market is ready, citing the country’s educated and industrious youth population.
He pledged transparency and ease of doing business, noting the elimination of old foreign exchange policies and associated corruption.
The president welcomed inquiries from investors, emphasizing the determination to provide answers directly.
Saudi investors attended the roundtable, representing various sectors such as construction, finance, energy, healthcare, agriculture, aviation, telecommunications, and more.
Aliko Dangote, Chairman of the Dangote Group, echoed Tinubu’s sentiments, highlighting Nigeria’s potential as a global investment haven.
Saudi Arabia’s Trade and Investment Minister, Kahlid El-Falih, praised Tinubu’s passion and commitment, assuring that Saudi investors would respond with substantial new investments across multiple sectors.
The Saudi delegation expressed their intention to visit Nigeria for implementation rather than exploratory discussions.
The roundtable featured discussions on potential collaborations and investments, with a focus on expanding economic ties between Nigeria and Saudi Arabia.
Tinubu also acknowledged the contribution of Nigerian companies to the Saudi economy and emphasized the potential for mutual growth.
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