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  • News - North Central - FCT
  • Updated: November 11, 2023

Tinubu assures Saudi investors of ease of doing business

Tinubu assures Saudi investors of ease of doing business

Nigeria's President, Bola Ahmed Tinubu, has assured Saudi investors of ease of doing business in Nigeria.

The president who was speaking at the Nigeria-Saudi Investment Roundtable on Saturday, assured Captains of the Saudi Arabian Industry that the country was now "open for business."

He reassured them that his administration had paved the way for investors to freely invest and benefit from their investments without hitches.

"I believe in this team that 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 easily out. The arbitrage around our nation's old foreign exchange policy regime and the corruption that was associated with it is also gone!

"We took on those bold endeavours from day one in preparation for serious investors like you seated here. The greatest opportunity for any entity to prosper lies in its human capital," Tinubu said 

He added that his administration was ready to accept investors, highlighting the country's richness in progressive youths.

"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, but it is the destination for our two countries and peoples," the president added.

Ajuri Ngelale, the president's Special Adviser on Media and Publicity, made this known in a statement on Saturday.

According to Ngelale, Saudi Arabia's Trade and Investment Minister, Kahlid El-Falih, assured that following the president's remarks from his heart, Nigerians should expect Saudi investment across several sectors. 

"The Minister of Commerce and I will be visiting Nigeria either before the end of this year or very early next year with a very large delegation of Saudi CEOs from all key sectors. 

"We know you are ready for business, so we do not want to come to Nigeria for any exploratory discussion. We are coming for implementation. It is an action visit," he said.

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