Your Funds Will Flow Smoothly Out Of Nigeria — Tinubu Assures Qatar Investors

In Doha on Sunday, President Bola Tinubu assured Qatari investors that their funds invested in Nigeria will flow smoothly in and out of the country under his administration.

Speaking at the Nigeria-Qatar Business and Investment Forum, Tinubu pledged to remove obstacles inhibiting profitable and legitimate enterprises in Africa’s largest economy.

“I am here to give you the assurance that reforms are going on; forget about whatever you heard in the past. Whatever is the obstacle or problem that some of you might have experienced; it is in the past, because there is no obstacle in the future,” Tinubu said.

He invited the international business community to bring investments to Nigeria, saying the country is “serious about revolutionizing investment promotion.”

Tinubu told the Qatari business leaders to report directly to him if any government official demands bribes or inducements from them.

“Do not offer a bribe to any of our people, and if it is requested or taken from you, report to us. You will have access to me. Nigeria will no longer be defined by the past, but by what we do now and moving forward,” the president stated.

“Do not let perceptions become a hindrance to your will to invest. Nigeria is serious about revolutionizing investment promotion. We are removing obstacles today and we are going to continue to remove all obstacles. We have done so much within nine months. And I am assuring you, it is free entry, and free exit. Your funds will flow smoothly into and out of our country. Bring your investments,” the President stated.

In November 2022, Emirates Airline, one of the two flag carriers of the United Arab Emirates (UAE), stopped flight operations to Nigeria.

The suspension was due to Emirates’ inability to repatriate $85 million of its revenue out of Nigeria.

It was the second time that year that Emirates halted Nigeria flights for the same issue – the first suspension occurred in August 2022.

But President Tinubu noted that his appointment of former Economic and Financial Crimes Commission (EFCC) chairman, Nuhu Ribadu, as National Security Adviser will strengthen Nigeria’s fight against corruption, insecurity and boost investors’ confidence in the nation.

Tinubu said Nigeria presents opportunities in oil and gas, solid minerals, tourism, healthcare and other sectors.

“I am here to give you assurances in all spheres: tourism, hospitality, healthcare, and in many other opportunities that abound around us. Do not be the investors who miss out on the golden opportunity we present,” he told the Qatari business leaders.

Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani, Qatar’s Minister of Commerce and Industry, said his country looks forward to exploring investment opportunities in Nigeria.

Tinubu was accompanied by several Nigerian governors and ministers to the forum.

They include Borno State Governor, Professor Babagana Umara Zulum; Kaduna State Governor, Senator Uba Sani; Lagos State Governor, Mr. Babajide Sanwo-Olu; Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun; Minister of Solid Minerals Development, Dr. Dele Alake; Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate; Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola; Minister of Trade, Industry and Investment, Dr. Doris Uzoka-Anite; Minister of Youth, Dr. Jamila Bio Ibrahim; and the Minister of State for Petroleum Resources (Gas), Mr. Ekperipe Ekpo.

Others were the National Security Adviser, Mallam Nuhu Ribadu; Special Adviser on Energy, Mrs. Olu Verheijen; and the President of the Nigerian Association of Chambers of Commerce and Industry, Mines, and Agriculture (NACCIMA), Mr. Dele Kelvin Oye.