‘Nigeria Is Ready For Global Business’ –Tinubu Woos European Bank, AFREXIM In Paris

Nigeria’s President, Bola Tinubu has told investors in Paris that the ongoing reforms by his government are targeted at making the country an investor’s haven capable of attracting foreign investments.

Tinubu said this on Thursday at the sidelines of the Summit for New Global Financing Pact in Paris.

Tinubu met the President of European Bank for Reconstruction and Development (EBRD), Odile Renaud–Basso and the president of the African Export-Import Bank (Afrexim), Prof. Benedict Oramah in two separate meeting to convince them.

“We are ready for business, prepared to welcome investments. We need reforms for national survival,’’ Tinubu said.

The new government commenced policies including the removal of fuel subsidy, harmonising the foreign exchange windows under the Investors’ and Exporters’ Window which is believed to open up the Nigerian economy.

Tinubu has also suspended the Central Bank Governor, Godwin Emefiele who spearheaded a monetary regime that fixed exchange rate and placed several FX restrictions.

He said, “We must stimulate recovery for the growth and prosperity of our people, which will not be far away. Nigeria is ready for global business and our reform is total. Nigeria is blessed with human and material resources.’’

According to the president, Nigeria would continue to stimulate the economy with policies that support investments in areas of Nigeria’s competitive advantage, particularly agriculture.

The AFREXIM boss said removal of fuel subsidy and unification of the exchange rate was necessary for Nigeria’s survival, adding that the bank would support the ongoing reforms.