In a compelling address to international investors at the G20 Compact with Africa Economic Conference in Berlin, President Bola Tinubu highlighted Nigeria’s invaluable assets beyond natural resources, emphasizing the highly educated, skilled, and dynamic populace as the country’s primary advantage in the global investment landscape.
At the panel discussion, “Fostering local value chains and investments in Africa,” hosted by German Chancellor Olaf Scholz, President Tinubu stressed Nigeria’s commitment to fostering a conducive business environment and promoting the rule of law to attract foreign investments.
Underlining Nigeria’s pursuit of energy sector advancements, Tinubu emphasized the country’s abundant gas resources and its shift toward hydrogen production for the future.
He outlined fiscal and financial reforms to accommodate foreign investments and showcased Nigeria’s demographic strength – a youthful, dynamic population and the essential ingredients for a modern economy.
Dispelling misconceptions about business disincentives in Africa, Tinubu highlighted the continent’s recognition of the link between investor inflow and contract sanctity, positioning Nigeria as a strategic partner based on its credentials and actions rather than outdated perceptions.
President Tinubu also detailed Nigeria’s initiatives aimed at job creation through labour-intensive sectors and highlighted the burgeoning opportunities in the nation’s expanding information and communications technology landscape.
Assuring investors of Nigeria’s commitment to an open economic landscape, Tinubu emphasized the country’s flexible capital movement policies, ensuring ease for investors.
Underlining Nigeria’s stable socio-political climate and democratic stability, Tinubu assured investors of a conducive business atmosphere and highlighted transformative changes to remove business hindrances and foster sound governance principles.
“We are dogged in our pursuit of natural gas development today, in tandem with hydrogen production for tomorrow. The world knows Nigeria as a leader in the energy sector.
”Our vast gas deposits and business-friendly environment make us an attractive investment destination. But we are going a step further now. We are creating fiscal responsibility and tax reforms as we reform our financial institutions to expeditiously accommodate foreign investments.
”We are eager and ready to partner with you. We have the youngest, largest, and most vibrant youth population in Africa. Equally, we have every ingredient required in the making of a modern economy: a well-educated population, a massive market, and the political will to bring it all together under my leadership.
“Africa has moved beyond the false past notions of business disincentivization and poor adherence to the rule of law. We now fully recognize the nexus between the inflow of investor money and the sanctity of contracts.
”We want to partner on the basis of who we are and what we do, rather than on the basis of long-held misconception,” the president stated.