Tinubu’s reforms massively opening new investment opportunities

From Juliana Taiwo-Obalonye, Abuja

Vice President Kashim Shettima has assured investors that Nigeria is at a pivotal moment for business, emphasising that ongoing reforms by President Bola Tinubu’s administration are unlocking fresh opportunities across several sectors.

In a statement by his media aide, Stanley Nkwocha, the Vice President, while speaking on Tuesday during a visit by the Abu Dhabi-Beijing consortium, Advanced Energy Partners (AEP), declared: “There is no better time to invest in Nigeria. You have come at the right time where we have been blessed with committed leadership.”

Highlighting Nigeria’s abundant resources and potential, Shettima explained that the Tinubu-led government’s targeted policies and interventions have created a conducive environment aimed at boosting economic growth and attracting foreign direct investments. “Be rest assured that you have invested your trust in the right nation. Nigeria is ready for business. We have crossed the Rubicon and are now on the path of sustainable development,” he added.

The delegation, led by Abu Ibrahim, said their visit was to explore significant investment opportunities in Nigeria’s upstream oil industry and other key sectors. Mr Qiang Wenyu, Vice President of China North Industries Corporation (NORINCO), reaffirmed NORINCO’s commitment to deepening collaboration with Nigerian partners, building on a previous meeting with President Tinubu in Beijing last September.

“Our operations span energy, oil & gas, defence industries, and mining, with an annual turnover of $30 billion last year,” Mr Qiang noted, highlighting the company’s dedication to expanding its footprint in Nigeria.

From Abu Dhabi, Ms Mahra Rashed Al Suwaidi, CEO of Horizon Energy, applauded President Tinubu’s leadership, citing the confidence it has instilled in the company to resume investments in Nigeria. She praised the management of institutions like the Nigerian National Petroleum Company Limited (NNPC) as evidence of the administration’s effective governance.

The UAE Ambassador to Nigeria, Salem Saeed Musabbeh Al Shamsi, encouraged the consortium to invest promptly, describing Nigeria as the “right place” for foreign investment. He emphasised the strengthened bilateral ties under President Tinubu, noting that non-oil trade between Nigeria and the UAE reached $4.3 billion in 2024.

Others present at the meeting included AEP CEO Mr Shakiru Olayinka, Mr Abiye Membere of AEP, Mr Hu Keyu from China Zhenhua Oil Corporation, Mr Xu Yongfeng of Beijing Auxin Chemical Technology Corporation, and Mr Liang Hongda from NORINCO’s African Department.