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U.S. acknowledge Tinubu’s economic efforts

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By Okunloye Abiodun

Nigeria should confront its challenges to conduct business efficiently - Bliken.

During a news briefing held in Abuja, U.S. Secretary of State. Antony Blinken expressed his admiration for the strategic initiatives implemented by President Bola Tinubu to restore trust among legitimate investors in Nigeria’s economy. Blinken’s declaration came shortly after a productive meeting with President Tinubu at the Presidential Villa on Tuesday. During his exploration across African nations, Bliken revealed that although the United States desires closer cooperation to enhance bilateral relationships with Nigeria, it is essential for the country to confront obstacles in order to conduct business efficiently and persistently.

It is widely acknowledged that several persisting challenges must be curbed in order to tap into the untapped potential fully. Addressing corruption and facilitating the repatriation of capital for foreign enterprises, these endeavours will steer them towards a revolutionary path and attract transformative investments. He is aware that President Tinubu is earnestly addressing these obstacles, and they indeed appreciate his audacious economic initiatives aimed at integrating the currency and discontinuing fuel subsidies. Additionally, they acknowledge that although these reforms have caused distress for marginalized communities, they understand the necessity of these measures in the short term.

Many entities strive to tap into the country’s vast opportunities.

Speaking further, Bliken discussed potential avenues for the United States to assist Nigerians during the implementation of vital reforms while simultaneously safeguarding those who might face temporary setbacks. He emphasized that despite the acknowledged obstacles in Nigeria, both the government and American business individuals persistently strive to tap into the country’s vast opportunities and extend their reach across Africa. According to him, local collaborations have encouraged private sector companies to make substantial investments, primarily targeting the health sector, with the overall goal of achieving developments that greatly benefits the people.

American entrepreneurs and corporations are eager to join forces with and invest in Nigeria, particularly in the field of technology, as emphasized by the U.S. Secretary of State. These tech giants have formed alliances with Nigerian partners to support the president’s ambitious initiative of creating one million digital jobs. Also, various corporations are actively involved in expanding internet accessibility through the installation of underground cables and the utilization of satellite technology. Nurturing Nigeria’s budding startups, their technology incubators play a pivotal role. Their focus lies in providing financial support through venture capital firms, with a shared goal of propelling Nigeria’s technological advancement and simultaneously generating employment opportunities.

Africa’s representation and influence within the UN will be amplified.

Bliken also affirmed that Nigeria holds a pivotal position in the cooperation between America and Africa in terms of their economic and political influence. He stressed the ongoing efforts by the United States to amplify Africa’s representation and influence within the United Nations, reflecting the evolving global landscape and its dynamics. At present, discussions revolve around a range of shared objectives, encompassing their commitment to expedite economic progress and enhance opportunities in this domain. The remark is directed towards a remarkable hub of innovation and immense dynamism.

The United States is fully dedicated to enhancing genuine alliances within the continent, addressing common obstacles, and fulfilling the hopes and aspirations of the population. Nigeria, being Africa’s biggest nation’s economy and democracy, plays a crucial role in this endeavour. Nigeria is actively spearheading initiatives for sustainable economic growth, environmental conservation, and knowledge sharing through an innovative, collaborative partnership. During September’s UN General Assembly, the president emphasized that Africa holds a pivotal role in shaping the world’s future.

Related Article: Predictions on Nigeria’s economy for 2024 

In the past five years, about $8.3 billion has been invested in combatting HIV and tuberculosis and enhancing the public health ecosystem, benefitting numerous Nigerians. This unwavering commitment to improving lives will persist. Moreover, their collaboration is empowering Nigerian establishments to spearhead innovative approaches and take charge of the public health crisis in the region. Furthermore, they are actively advancing climate action, playing a pivotal role as members of the global coalition. A coalition of 30 Atlantic nations is actively engaged in a synchronized effort to foster and promote the ethical advancement of artificial intelligence. Throughout these collaborations, they have realized that the advantages derived from such investments are equally beneficial to them as they are to any other location or company involved.


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AN-Toni
Editor
1 month ago

U.S. acknowledge Tinubu’s economic efforts. – Nigeria should confront its challenges to conduct business efficiently – Bliken.Express your point of view.

SarahDiv
Member
1 month ago

President Tinubu’s economic efforts gain recognition from U.S. Secretary of State Blinken, who urges Nigeria to overcome obstacles for efficient business. The acknowledgment extends to reforms, especially in technology, aiming for digital job creation and expanded internet access. The U.S. emphasizes collaboration, recognizing Nigeria’s crucial role in fostering economic progress, environmental conservation, and knowledge sharing in Africa.

Kazeem1
Member
1 month ago

When people who have significantly impacted their nation’s economy receive international recognition, it is usually heartening. We can encourage economic growth and draw in additional investments by removing these barriers and improving the business environment.

Taiwo
Member
1 month ago

US acknowledges Tinubu’s work in the economy. – According to Bliken, Nigeria needs to face its obstacles in order to conduct business effectively.  To address the economy, the government must take action. Certain policies continue to have an adverse effect on the state of the economy.

Adeoye Adegoke
Member
1 month ago

It’s great to hear that the U.S. has acknowledged Tinubu’s economic efforts! It’s always encouraging when the contributions of individuals are recognized on an international level. Nigeria definitely has its fair share of challenges when it comes to conducting business efficiently, but it’s important to confront these challenges head-on and find effective solutions. By addressing these obstacles, Nigeria can create a more conducive environment for businesses to thrive and attract both domestic and foreign investments. It’s all about fostering a business-friendly ecosystem that encourages innovation, entrepreneurship, and economic growth.