TINUBU TO SAMSUNG CEO: NIGERIA IS BEST DESTINATION FOR BUSINESS

Read Time:3 Minute, 52 Second

President Bola Tinubu on Sunday said that Nigeria’s investment environment operates on the principle of ‘a willing-buyer and willing-seller’, which ensures seamless access to capital for investors both within and outside the country.

The President gave the assurance in Riyadh, Saudi Arabia, during a meeting with the President and Chief Executive Officer of Samsung, Hong Namkoong, and the Chairman of Samsung Investment Global, Jungwook Kim.

GUNMEN KILL GOV AIYEDATIWA’S CAMPAIGN COORDINATOR ALABA EXCEL

The meeting took place on the margins of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development.

A statement issued by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, quoted Tinubu as saying, ”Nigeria is a very huge country with a huge and able population. We have vibrant youths ready to learn and progress. In fact, our young do not wait for us. They go ahead of us in their determination to succeed. We must keep up and provide opportunities for them to excel with.

“We have an infrastructure deficit and you can take advantage of that and invest early and deeply in an environment that is absorptive and ready for it. It is modeled after a willing-buyer and willing-seller arrangement. Easy capital in and easy capital out.”

According to the statement, “The President took time to detail the significant opportunities across sectors for investment within the Renewed Hope Infrastructure Development Fund, which involves the potential utilization of co-finance instruments on critical infrastructure and technology which Samsung is well known to produce.”

President Tinubu also harped on the importance of deepening collaboration in the crude oil, natural gas, renewable energy, engineering, technology and agriculture sectors, emphasizing the potential for vast private sector participation in the establishment of fully-embedded, off-grid, cold-chain integration across sub-industries in the agriculture sector to forestall post-harvest losses with mass refrigeration capacity.

”We are ready to discuss and discover one another more. We can benefit so much from collaborative effort. You have the know-how, and we have the willingness. Seize this opportunity,’’ the President told the Samsung executives.

Samsung Chairman Kim expressed Samsung’s interest in expanding its presence in Nigeria, citing the successes of sister companies already operating in the country while laying out potential new opportunities in Nigeria. PRESIDENT Bola Tinubu on Sunday said that Nigeria’s investment environment operates on the principle of ‘a willing-buyer and willing-seller’, which ensures seamless access to capital for investors both within and outside the country.

The meeting took place on the margins of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development.