President Bola Tinubu has assured potential investors that their investments are safe in Nigeria.
Speaking at the Saudi-Africa Summit in Riyadh, Saudi Arabia, yesterday, President Tinubu, in a statement issued by presidential spokesman, Ajuri Ngelale, said Nigeria is ready for business while assuring investors of some of the worlds highest returns on investment.
The President said Nigeria is desirous of enhancing collaboration with the Kingdom of Saudi Arabia on combating terrorist organisations such as Boko Haram, ISWAP, and other violent extremist groups which have been terrorising the Lake Chad and Sahel regions.
According to Tinubu, I wish to assure all potential Saudi investors of the safety of their investments based on the sanctity of the rule of law and good returns on their investments in the largest economy in Africa. In this regard, the benefit attached to the early inauguration of the Nigeria-Saudi Business Council cannot be over-emphasised.
The President further said: Nigeria, like the Kingdom, is diversifying her economy away from oil dependence to promote sustainable development. My administration has undertaken bold economic reforms by removing wasteful subsidies on petroleum and the merging of our foreign exchange market, among other incentives aimed at improving the ease-of-doing business in Nigeria.
Nigeria and Saudi Arabia have always enjoyed a special relationship at both the bilateral and multilateral levels. Within the past six decades, our bilateral cooperation, which was initially hajj-centric, has witnessed diversification to cover a number of areas of common interest. It is delightful to note the presence in this great Kingdom of a large number of our compatriots and professionals, including highly-skilled medical practitioners and professional football players.
As members of several international organisations including the United Nations (UN), the Organisation of Petroleum Exporting Countries (OPEC), the International Energy Forum, the G-77, the Islamic Development Bank, and the Digital Cooperation Organisation, among others, our two nations have effectively used these and other platforms to enhance close interaction and coordination.
President Tinubu thanked the Kingdom for the various humanitarian interventions in Nigeria through the King Salman Humanitarian Aid and Relief Centre.
Speaking on climate change and how it affects Africa, President Tinubu said climate change has led to an expedited rate of desertification and incessant flooding in Nigeria and many other countries of Africa.
On the situation in the Middle-East, particularly in Palestine, the President reiterated Nigerias call for an immediate ceasefire and the pursuit of a peaceful resolution to the conflict.
