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President Bola Tinubu has assured potential investors in the United States not to be afraid to invest in Nigeria, saying, “You’re free to take in your money and bring out your money. I count on you to invest in Nigeria.”
He gave the assurance after he rang the closing bell at the world’s second largest stock exchange, the National Association of Securities Dealers Automatic Quotation System (NASDAQ), in the United States.
“It’s a great honour for me to be here. I am happy to bring Nigeria to your doorsteps and I am honoured that we are here today with a bubbling Nigerian stock market that will evolve in the West African sub-region. The greatest economy in Africa is Nigeria, there is an immense opportunity in Nigeria where you can invest your money without fear.”
His work to stabilise and unify the foreign exchange rate market to a level that is reliable and stable has allowed new investors to seamlessly bring their money into the country without worrying about whether or not they can take it out at any time, he said. He also noted that his government is still addressing long-standing issues and obstacles.
At the Nigeria-U.S. Executive Business Roundtable, which was held right after the closing bell, Tinubu reassured potential investors that, in addition to all that he has already done to increase the confidence of the international investment community in Nigeria’s currently reforming financial system, he purposefully brought successful Nigerian industrialists and public officials to share their experiences and operational plans respectively.
“Nigeria is an opportunity that is impossible to replicate or find elsewhere in any part of the world. We have brilliant young people who both innovate and consume at a large scale. Our entrepreneurial spirit is a major part of what makes our market totally unique, aside from demography. Nigerians build businesses and Nigerian businesses partner with other businesses to conduct larger business. There is enough value to spread around. Be careful of what you hear about Nigeria. You may be dissuaded out of a major opportunity that others will take up. We are here for you. We will give you all the support you need to succeed and succeed abundantly.”
On behalf of the U.S. Government, U.S. Deputy Treasury Secretary, Wally Adeyemo, told U.S. business leaders that he was just a few hours removed from arriving in New York from Lagos, Nigeria, where he was on an official visit that later became a fact-finding mission.
“In Lagos, I saw first hand some of the major reforms you implemented as the Governor of Lagos and the transformative effect it has had on Nigeria’s commercial capital. People have attested to the fact that the reforms you have put in place as President are quickly enhancing confidence. American business is paying attention to that and from what we have seen for ourselves, Nigeria is proving to be a new frontier for investment. We will encourage our companies from our end as those reforms continue to deepen,” he said.
