Business

Tinubu: My govt’ll remove bottlenecks to investment

President Bola Tinubu has assured the manufacturing and service sectors that more reforms would be unfolded to enable efficiency and attract investments to the country.

Tinubu stated that the ongoing economic “revolution” would be deliberately steered to capture and favour the teeming youths in the country.

The president stated this when he met with a delegation from the MTN, led by Group Chairman, Mcebisi Jonas, at the Presidential Villa in Abuja on Friday, July 7, 2023.

He said: “We have a responsibility to revolutionise the economy so that our youths can share in the prosperity of the nation, otherwise we are only waiting for the dreams to be charted.

“If you have any problems or impediments do let us know. We are ready to remove bottlenecks to investments in the economy.”

President Tinubu said the sweeping changes across the world was largely driven by technology, adding that the growing rural-urban migration could only be controlled with more investments in digital technology that would directly improve healthcare systems and education for the poor.

Tinubu said: “I am happy you are moving from Corporate Social Responsibility to be more incisive and inquisitive with technology so that we can see how we can partner structurally.

“You can do a lot for the economy by partnering with us. We believe no one can succeed alone.

“The structural adjustments we are making are to ensure we face the right direction and arrive at a destination that caters for our people.

“You and I will make sure that the people have a share of that prosperity. We will, together, build a well-informed society.

“We have to re-assess the journey. I am glad that the stock market is responding positively to the structural adjustments.”

On his part, the MTN Group Chairman said the company has a plan of investing 3.5 billion dollars in the economy over the next five years, with a broader vision of becoming a pan-African company.

Jonas said this would be through moving investments from the Middle East and focusing more on Africa, especially Nigeria, where it gets the highest return on investment.

He, however, congratulated Tinubu for the upswing of interest in the country within a short period since he assumed office.

He also promised to mobilise other investors with about $1.5 trillion to look towards Nigeria, where reforms had been styled to favour business and encourage inclusive development.

“The message you have given us is that Nigeria is investible, and with your election, we are seeing decisive, prompt, and keen interest in structural reforms,” the MTN Group Chairman said.

The Star