By Hannah Nathan, Warri
President Bola Tinubu has reassured prospective investors that his administration is committed to enacting the necessary budgetary and regulatory measures to make doing business in Nigeria easier.
The President acknowledged that investment capital is inherently cowardly at the Nigeria-U.S Executive Business Roundtable.
He claimed that was the reason he had invited prosperous Nigerian businesspeople and government leaders to discuss their experiences and distinct business strategies.
The overhaul of the fiscal, monetary, regulatory, and tax policy environment, according to Tinubu, was in addition to everything else he had done to increase the confidence of the international investment community in Nigeria.
“The potential in Nigeria is one that cannot be duplicated or found in any other region of the world. We have inventive young individuals who are brilliant. simultaneously innovate and consume widely.
”Aside from demography, a significant factor that distinguishes our market from others is our entrepreneurial spirit.
“Nigerians “build businesses” and cooperate with other companies to expand their operations.
“There is sufficient value to go around. Watch what you read or hear about Nigeria. You might be talked out of a significant opportunity that others will seize.
“We are available to you. The President promised to provide you with all the assistance you require to succeed.
U.S. Deputy Treasury Secretary Wally Adeyemo informed American business leaders on behalf of the federal government that he had just returned from an official fact-finding mission after visiting Nigeria.
“I witnessed firsthand in Lagos some of the significant changes you made while serving as the governor of Lagos and how they affected the commercial center of Nigeria.
“People have confirmed that the measures you have implemented as president are rapidly boosting confidence.
American industry is taking note of this, and based on what we have personally witnessed, Nigeria is proving to be a new frontier for investment.
As those reforms continue to develop, “we will support our companies from our end,” Adeyemo said.
The large number of American business chief executives who attended the roundtable, according to Mr. Sops Ideriah, president of the American Business Council, was noteworthy.
The attendance, in his opinion, demonstrated how much confidence is growing in the wake of the president’s executive actions and remarks.
He claimed that this was in relation to the ease of conducting business, encouraging investment, and his willingness to step in and allay any prior worries that American businesspeople may have had about conducting operations in Nigeria.
“Having all the participants in the discussion present, including His Excellency the President of Nigeria, federal and state government officials, ministers, tax officials, and Nigerian industrialists from the private sector,
Ideriah stated, “We are really optimistic about Nigeria’s prospects, and we are simply reiterating to our colleagues the message about the economic opportunities that exist there.
Mr. Zacch Adedeji, the Federal Inland Revenue Service’s (FIRS) acting chairman, promised the American business leaders that the top tax body in the country wouldn’t concentrate on taxing the seed.
He said that through effective policy coordination with Nigeria’s sub-national authorities, it would exclusively concentrate on the proportionate taxation of the fruits of fully developed industry.
“The President facilitates business, not hinders it. Everything we do will be focused on maximizing the digital efficiency and transparency of your tax assessment and payment processes.
We won’t stray from our vow that we aren’t interested in the seed but the fruit, said Adedeji. (NAN)
Tinubu is the first African leader to ring the NASDAQ closing bell.
The National Association of Securities Dealers is celebrating President Bola Tinubu’s tenacious efforts throughout the world to aggressively draw foreign direct investment into Nigeria, the second-largest stock market in the world. On Wednesday, the world’s financial center’s Dealers Automatic Quotation System (NASDAQ) asked President Tinubu to ring the closing bell, making him the first African president to ever receive the honor.
In typical fashion, the President took advantage of the historic moment to boldly advance his push for foreign investment as he stood live in front of the financial markets at the renowned stock exchange, surrounded by prominent Nigerian businessmen and officials of the Nigerian Stock Exchange.
“Being here is a big honor for me. The fact that we are here today with a booming Nigerian stock market that will develop in the West African sub-region makes me delighted to bring Nigeria to your doorsteps, and I feel honored. most prosperous economy Nigeria offers tremendous opportunity and a risk-free place to put your money in Africa, according to the president.
The President emphasized that his administration continues to address persistent issues and obstacles, such as his work to stabilize and unify the foreign exchange rate market to a level that allows new investors to effortlessly bridge the gap between developed and developing countries. Individuals can deposit their money into the country without worrying about being able to withdraw it at any time.
“You are free to put your money in and take it out. In front of the lights, the president yelled, “I count on you to invest in Nigeria”.