From Juliana Taiwo-Obalonye (Paris – France
President Bola Tinubu has given a ringing commendation to the African Development Bank (AfDB) for institution’s investment of $520 million in specialised agro-processing zones and for generally promoting investment opportunities that reduce poverty and create job opportunities.
AfDB’s investment, Tinubu said, would contribute greatly towards reinvigorating the economy, attracting more foreign investments to the country, and ensuring its seamless development.
In a statement by his Special Adviser, Special Duties, Communications and Strategy, Dele Alake, the President gave the commendation when he granted audience to Adesina after the two-day summit on New Global Financing Pact, held in Paris, the French capital.
Noting that the agro-industrial project strengthens an area of the country’s competitive advantage, he listed other areas of priority that require foreign direct investment (FDI).
He advised AfDB to allocate funding towards initiatives that promote women and youth empowerment. Furthermore, the President acknowledged Adesina’s commitment to creating a Nigerian Youth Entrepreneurship Bank to supply credit, skills, and other resources to young Nigerians and expressed his admiration for the vision.
He assured Adesina that the Federal Government would provide all the necessary assistance to ensure sustenance of the projects, adding that electricity remained a priority area that needed urgent attention.
In his remarks, the AfDB President thanked President Tinubu for the bold initiatives that had repositioned the Nigerian economy in three weeks and stimulated appetite of investors from different parts of the world; removal of petrol subsidy and harmonisation of exchange rates.
“I commend the President’s foresight, boldness and determination for macroeconomic policy direction by removing the fuel subsidy,’’ he said, adding, “No bird can fly with its wings tied behind. All those steps are signals investors like.’’
Adesina said the bank would support the economic policies of the new administration in Nigeria that had placed the people first in development targets.
In another meeting, President Tinubu received executives of Airbus/ATR, and assured them that the aviation sector would be “streamlined for efficiency,’ especially in maintenance of aircrafts and training.
Senior Vice President of Airbus/ATR, Public Affairs, Laurent Rahul Domergue, assured the President that the company was prepared to invest in the aviation sector, particularly in supplying planes to Nigeria.