Business & Markets

All Bottlenecks Will Be Crushed – Tinubu Tells Saudi Investors

All Bottlenecks Will Be Crushed – Tinubu Tells Saudi Investors

President Bola Ahmed Tinubu has assured investors from Saudi Arabia that all bottlenecks will be crushed and their funds will come in and go out without hindrances.

The president spoke yesterday in Riyadh, Saudi Arabia, as he began his deliberation with the captains of Saudi Arabian industry at the Nigeria-Saudi Investment Roundtable.

He made it clear that with his team in place, every negative perception or notion about what Nigeria had represented in the past with respect to the ease of doing business, monetary policy, and trade cooperation were no longer applicable now and in the future of Africa’s largest economy, which he firmly declared was “open for business.”

“I believe in this team I have brought from Nigeria. When I took office, I declared the immediate commencement of bold and fundamental economic reforms. We have executed them and we sustain the reform process. Today, I declare that red tape is gone.

“I believe in the full application of free market economics. Your money will flow easily in and out. The arbitrage around our country’s old foreign exchange policy regime and the corruption was associated with it is also gone.

“We took on those bold endeavours from day one in preparation for serious investors like you. The greatest opportunity for any entity to prosper lies in its human capital. My team is prepared. We can produce. Our market is full of Nigerian youths, who are brilliant, highly educated, industrious and passionate about innovation and engagement with world-class services.

“The navigation of the ship of this great nation lies in the membership seated here. We are ready to answer all of your questions directly, even into this night if need be. The sky is not just the limit, it is the destination for our two countries and peoples,” President Tinubu noted in a statement by his spokesman, Ajuri Ngelale.

Saudi Arabia’s trade and investment minister, Kahlid El-Falih, noted the passion and candid expression of the Nigerian leader, saying that after listening to the president speak from his heart without any written remarks about what is possible between the two countries, Nigerians can expect that the Saudi investment community will respond, not in words alone, but with substantial new investment across several sectors of the Nigerian economy.

Chairman of Dangote Industries, Alhaji Aliko Dangote told Saudi investors that Nigeria under the leadership of President Bola Tinubu, will be unearthed to the world as a foremost global investment haven.

“What I always say about Nigeria is that it is the world’s best kept secret in terms of investments and returns. We are also looking to ensure that our investments are a two-way process. Nigerian companies have a lot of value to add to the Saudi economy, and we look forward to working together in expanding our Nigerian operations as well. The soon coming launch of the Nigeria-Saudi Business Council will be a huge opportunity for both countries to expand on what has been established here”, he said.

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