Tinubu woos Saudi Arabia investors: Your investments safe in Nigeria

President Bola Tinubu has assured potential investors in Saudi Arabia that their investments are safe in Nigeria.

Tinubu said Nigeria is ready for business, assuring investors of some of the world’s highest returns on investment.

The president said this at the Saudi-Africa Summit in Riyadh, Saudi Arabia, on Friday, November 10.

He stated that Nigeria is desirous of enhancing collaboration with 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.

President Tinubu said: 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 organizations including the UN, the Organization of Petroleum Exporting Countries, the International Energy Forum, the G77, the Islamic Development Bank, the Digital Cooperation Organization 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 disposition 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 the merging of 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 can not be over-emphasized.”

Tinubu, according to a statement issued by his spokesman, Ajuri Ngelale, thanked Saudi Arabia 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.

He commended the efforts of Saudi Arabia 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.

On the situation in the Middle East, particularly in Palestine, the president reiterated Nigeria’s call for an immediate ceasefire and the pursuit of a peaceful resolution to the conflict.

The Star