President Tinubu Assures Saudi Investors of Safe Investments in Nigeria
In a recent development, details have emerged regarding President Bola Tinubu’s meeting with Saudi investors during the Saudi-Africa Summit in Riyadh, Saudi Arabia.
Tinubu, through his media aide Ajuri Ngelale, stated that he assured foreign investors that their investments are secure in Nigeria.
President Tinubu expressed Nigeria’s readiness for business and offered assurances to investors regarding some of the world’s highest returns on investment. He emphasized the sanctity of the rule of law and good returns on investments in Nigeria, the largest economy in Africa.
During the summit, Tinubu highlighted the significance of the early inauguration of the Nigeria-Saudi Business Council, underscoring Nigeria’s commitment to diversifying its economy away from oil dependence for sustainable development.
The president outlined bold economic reforms, including the removal of wasteful subsidies on petroleum and the merging of the foreign exchange market, aimed at improving the ease of doing business in Nigeria.
Tinubu also stressed Nigeria’s interest in enhancing collaboration with Saudi Arabia to combat terrorist organizations such as Boko Haram, ISWAP, and other violent extremist groups affecting the Lake Chad and Sahel regions.
The special relationship between Nigeria and Saudi Arabia, spanning six decades, was acknowledged by Tinubu. He highlighted the diversification of bilateral cooperation beyond hajj-centric initiatives to cover various areas of common interest. Tinubu expressed confidence in the continued positive disposition within international platforms where both countries are members.
The president appreciated Saudi Arabia for humanitarian interventions in Nigeria through the King Salman Humanitarian Aid and Relief Centre.
Addressing climate change, Tinubu acknowledged its adverse effects on Africa, including desertification and flooding in Nigeria. He commended the Kingdom’s initiatives to combat climate change and pledged Nigeria’s commitment to similar initiatives addressing climate change and energy poverty.