The Preisident of the Federal Republic of Nigeria, his excellency Bola Ahmed Tinub on Friday spokea t the Saudi-Africa Summit in Riyadh, Saudi Arabia and gave his assurances to foreign investors that they have nothing to fear commiting their funds into projects in Nigeria as he is certain thier investments are safe down here.
“As members of several international organisations, including the UN, the Organisation of Petroleum Exporting Countries, the International Energy Forum, the G77, 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. I am confident that our joint positive dispositions within these platforms will continue to be demonstrated as we seek to advance our mutual interests.
“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 merging our foreign exchange market, among other incentives aimed at improving the ease of doing business in Nigeria.
“I also 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 overemphasised.”
President Tinubu thanked the Kingdom for the various humanitarian interventions in Nigeria through the King Salman Humanitarian Aid and Relief Centre.
On climate change and how it affects Africa, President Tinubu said that the phenomenon has led to an expedited rate of desertification and incessant flooding in Nigeria and many other countries in Africa.
He commended the efforts of the Kingdom for its various initiatives to fight the effects of climate change, adding that Nigeria is also working on a number of initiatives to fight the effects of climate change and energy poverty.
Tinubu further stated: “Recently, we launched a data-driven Energy Transition Plan that sets forth a clear carbon reduction policy and targets net-zero emissions by the year 2060 while also setting out our plans for industrialization using new energy systems and universal access to modern energy services.
“Mr Chairman, let me also take this opportunity to reiterate Nigeria’s full support for the Kingdom’s bids to host the 2030 World Expo in Riyadh and the 2034 FIFA Senior Men’s World Cup, the latter of which is now all but guaranteed to succeed.”
The President reiterated Nigeria’s call for an immediate ceasefire and the pursuit of a peaceful resolution to the conflict in the Middle East, particularly with regard to Israel and Palestine.