President Bola Tinubu said his administration is implementing economic reforms to build a more productive and competitive economy, while creating a more supportive environment for businesses and investors.
Photo of President Bola Tinubu
President Bola Tinubu has assured local and international investors that Nigeria remains open for business.
He also declared that his administration is working to create a more predictable, competitive and investment-friendly business environment.
The President gave the assurance on Monday in Abuja at the 75th anniversary flagship event of the Nigerian Bottling Company Limited (NBC), held at the Bola Ahmed Tinubu International Conference Centre.
Tinubu, who was represented by the Secretary to the Government of the Federation, Senator George Akume, said the Federal Government recognises the practical challenges confronting businesses and is addressing them through reforms under the Renewed Hope Agenda.
“Our message to investors, both Nigerian and international, is clear: Nigeria is open for business, and we are working to make the business environment more predictable, more competitive and more supportive of investment,” the President said.
He noted that businesses require reliable power and infrastructure, clear and consistent regulations, efficient ports and logistics, access to foreign exchange and a tax system that encourages productive enterprise.
According to him, these factors directly influence decisions by investors on whether to expand factories, establish new production lines and create additional employment opportunities.
President Tinubu explained that the administration embarked on its economic reforms because of the need to build a more productive and competitive economy capable of reducing dependence on imports, expanding domestic manufacturing and creating greater opportunities for Nigerians.
“We are making difficult changes because we want a more productive and competitive Nigerian economy. We do not want to remain overly dependent on imported goods while our own productive capacity remains underdeveloped. We want to produce more, manufacture more, add more value locally and create more opportunities for Nigerians,” he added.
