President Bola Tinubu held a meeting with Prof. Benedict Oramah, the President of AfreximBank, and Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development (EBRD), in Paris to engage in discussions regarding Nigeria’s economic reforms and the country’s potential for attracting foreign investment.
Tinubu expressed his readiness to conduct business and his eagerness to welcome investments, emphasizing the significant strides taken by Nigeria. “By eliminating fuel subsidy and eradicating multiple exchange rates, we have successfully dealt with major obstacles. Our commitment lies in opening up the economy for commerce,” stated Tinubu.
The President of AfreximBank lauded Tinubu’s audacious measures in reforming the economy and pledged the bank’s support for the government’s endeavours. Tinubu stressed the imperative nature of reforms for the nation’s survival, underscoring the necessity for boldness and courage in revitalizing the economy.
EBRD’s President acknowledged Nigeria as a “top priority” for the institution and affirmed its dedication to investing in the country’s economy. Tinubu, reflecting on the changing dynamics for African nations, emphasized the need for active participation and competition on the global stage. “Business as usual is no longer sufficient. We must engage in the global discourse and strive to compete with the rest of the world,” Tinubu asserted.
In addition, Tinubu actively participated in a panel discussion centred around the New Global Financing Pact, an innovative initiative designed to reform the global financial system to address climate change, poverty, and inequality challenges. Tinubu highlighted the significance of elevating social issues in Africa alongside environmental concerns. “We firmly believe that social issues deserve the same level of attention as environmental issues and world leaders should prioritize them accordingly,” stated Tinubu.
Tinubu expressed Nigeria’s commitment to collaborating with other nations in implementing the pact, firmly believing in its potential to revolutionize the world.
The New Global Financing Pact stands as a momentous initiative with the power to bring about tangible change in combating climate change, poverty, and inequality. Nigeria’s active involvement in this pact marks a positive stride, raising hopes for the country’s influential role in driving its successful implementation.
