Tinubu Declares Nigeria “More Ready for Business Than Ever”
President Bola Ahmed Tinubu has assured global investors that Nigeria is fully prepared to welcome new business opportunities, declaring that the country “has never been more ready for business than it is now.”
The president made the remarks during a high-level meeting with international energy executives in New York, where he pledged to personally oversee the removal of bureaucratic and policy hurdles that have long discouraged investment in Africa’s largest economy. He stressed that his administration is determined to create a transparent, predictable environment for businesses to thrive.
Tinubu, drawing from his private-sector background in the oil and gas industry, said Nigeria has both the resources and leadership to attract long-term foreign partnerships.
“The knotty issues require direct supervision,” he explained, promising to eliminate obstacles that slow down investment and job creation.
His remarks drew a positive response from ExxonMobil, which announced plans to ramp up operations in Nigeria with an initial pledge of 40,000 additional barrels of oil per day.
Analysts say such commitments reflect renewed investor confidence in the country’s policy direction.
The president’s assurances come against the backdrop of sweeping economic reforms introduced since he assumed office.
These include the removal of fuel subsidies, the unification of exchange rates, and sector-wide restructuring—all aimed at stabilizing the economy and attracting foreign capital.
Recent figures from the Central Bank show the reforms are beginning to yield results, with Nigeria posting a $6.83 billion balance of payments surplus in 2024—its first major surplus in years.
The government has also sealed billion-dollar partnerships, including a $1 billion agricultural cooperation deal with Brazil to modernize farming and a $1.2 billion agreement with China’s CNCEC to revamp a critical gas processing facility.
Vice President Kashim Shettima, speaking separately on the government’s economic roadmap, reiterated that these efforts are part of the drive to build a $1 trillion economy by 2030.
Observers note that Tinubu’s strong investor pitch marks a deliberate shift in tone for Nigeria—one that emphasizes openness, reforms, and practical collaboration. While challenges such as inflation and high living costs remain, the administration is banking on international confidence and strategic investments to stimulate growth, create jobs, and reposition Nigeria as a leading investment hub on the continent.
