The President of Nigeria, Bola Tinubu has assured potential investors that their investments are safe in Nigeria.
He gave the assurance at the Saudi-Africa Summit in Riyadh, Saudi Arabia, on Friday, according to a statement issued by Special Adviser to the President on Media and Publicity, Ajuri Ngelale.
The President said Nigeria is ready for business while assuring investors of some of the world’s highest returns on investment.
Tinubu said Nigeria is desirous of enhancing collaboration with the Kingdom of Saudi Arabia on combating terrorist organizations such as Boko Haram, ISWAP, and other violent extremist groups which have been terrorising the Lake Chad and Sahel regions.
“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 cannot be over-emphasized,” he said.
President Tinubu thanked the Kingdom for the various humanitarian interventions in Nigeria through the King Salman Humanitarian Aid and Relief Centre.