President Bola Tinubu in a press release has reassured the public of his administration’s unwavering commitment to enacting crucial economic reforms that will pave the way for business expansion and foster Investment opportunities to cater to the increasing population of Nigeria. During a visit to Abuja on Thursday, President Tinubu welcomed a group from the Corporate Council on Africa (CCA) headed by Florizelle Liser, the President and CEO of CCA. He highlighted his strong dedication to the Economic Development and stability of Nigeria, affirming that he will persist until his vision for the country becomes a reality.
The recent installation of a 45,000-kilometre submarine fibre optic cable in Akwa Ibom State was praised by the President for providing connectivity to the entire South-South region of Nigeria with Europe and other parts of Africa through the Atlantic Ocean. The President emphasised the importance of this achievement, stating that Nigeria has the potential to address longstanding developmental obstacles and make significant advancements in various sectors by implementing the appropriate policies, forming partnerships, and demonstrating determination.
Different sectors of the country’s economy will be focused on.
Making use of his wealth of knowledge and expertise in corporate governance and past collaborations with CCA while serving as the double-term governor of Lagos State, President Tinubu commended the Corporate Council’s commitment to strengthening and enhancing business relationships between the United States and Africa. He further expressed his contentment with the Council’s focus on different sectors of the country’s economy, noting that they are crucially positioned during a pivotal phase of their reform efforts and commitment.
Despite facing challenges, they remain determined to push forward and tackle the obstacles ahead. They are confident in their ability to conquer these challenges and continue moving forward. He exudes a positive attitude that needs to be transformed into a proactive approach. With a strong team in place, their focus must remain unwavering in order to achieve their goal, he stated. He restated his dedication to fostering a favourable atmosphere for business growth and success.
Security measures and investments in education will be enhanced.
He highlighted that his government’s emphasis on supporting important industries like agriculture, solid minerals, energy, healthcare, infrastructure, trade, finance, technology, and the arts are driven by the goal of securing the well-being and prosperity of the people. Their focus will be on enhancing Security measures and prioritising investments in education, viewing Education as the most powerful tool in the fight against poverty. He expressed enthusiasm about collaborating with partners such as CCA, aiming to bolster their partnership in order to reach their objectives.
During her speech, Ms. Liser emphasised CCA’s dedication to aiding Nigeria’s economic development in the specific sectors highlighted by President Tinubu’s government. She extended an invitation for President Tinubu to join CCA’s US-Africa Business Summit in Dallas, Texas, in May, where U.S. and other African Private Sector and Government representatives will engage in key sectors under the theme “U.S.-Africa Business: Partnering for Sustainable Success.” She encouraged him to view CCA as a valuable collaborator in bolstering trade, business, and investment between the U.S. and Nigeria.
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Moreover, economic reform is crucial for promoting economic growth, improving efficiency, and reducing poverty. It helps to create a more competitive business environment, attract foreign investment, and encourage Innovation and Technology adoption. Economic reforms can also lead to better allocation of resources, increased productivity, and higher living standards for the population. Reforms in areas such as taxation, labour market regulations, Trade policies, and financial sector development can help stimulate Economic Growth and create a more stable and resilient economy.