Nigeria’s Finance Minister Olawale Adun said on Wednesday that he is optimistic about what has been achieved so far. Adun, who is also the country’s Coordinating Minister for Economy, said he felt that India and Nigeria were charting a path to joint mutual prosperity based on economic development.
Speaking to reporters on the sidelines of the Nigeria-India Business Summit in the national capital on Wednesday, Adun said, “We are extremely happy to be here. And so far, as I said, we are about halfway through our consultations, our discussions We are. With you and other business leaders. And we are full of optimism about what has been accomplished so far.” “We’ve had lighthearted, engaging discussions, forged meaningful partnerships, and we want to continue to do so today. And I think we’re carving a path to joint mutual prosperity based on economic growth.” He added.
Adun also talked about the round table meeting he had with Nigerian President Bola Ahmed Tinubu. He apologized for the delay, saying, “We’re here for you. We’re here for business.” Adun said Nigeria’s focus is on attracting global capital and promoting foreign direct investment. He said his decision underscores Nigeria’s commitment to job creation, economic diversification and revenue expansion.
Describing his country as an “attractive destination” for business, he said, “Our focus is on attracting global capital, promoting foreign direct investment, and this underlines our commitment to job creation, economic diversification and revenue expansion.” Nigeria, as stated earlier, is an attractive destination for business. It is full of opportunities in various sectors.” “And the environment has changed, it has improved. And that’s why now is the time because there’s no doubt that you’re looking at key macroeconomic factors for exchange rate stability, inflation, interest rates and indeed liquidity constraints. The constraints will follow. , for adequate funding, are now in the process of being removed,” he said.
Adun praised the Nigerian president for his economic decisions, including his work on the fiscal side to remove subsidies that cost 2 percent of GDP each year. He said that decisions related to the economy will be beneficial. “As we all know, it takes time to recover when you make big economic decisions, like what Mr. President did on the fiscal side with the removal of subsidies, which cost more than half of GDP every year. 2 per cent and depriving the government of those resources. And on the monetary side of removing the many, confusing and very inefficient foreign exchange windows so that there is now more or less a formal market for foreign exchange,” he said. Said.
“Profit from the big changes that are unfolding now. It won’t happen overnight, but clearly, for those interested in investing, the playing field has been leveled, it has been cleared of debris, And the opportunity is now, you have to seize it,” he said. On the work philosophy of the Nigerian President, he said Bola Ahmed Tinubu wants to develop in a way that reduces poverty and creates opportunities for prosperity and a better life.
“I would like to brief you on the philosophy of the President, the basis of his economic plan and the foundations on which he seeks to build development that will reduce poverty and create opportunities for true prosperity and of course, for the Nigerian people Better life for you. And more profits for you, if I may say so,” he said. “And those are the other eight priority areas. Number one, boosting economic growth and job creation, that speaks for itself. Tackling poverty is a key element of what he’s trying to achieve. Boosting food security Improving access to capital, including retail financing, which makes durable goods, long-lasting goods, consumer goods affordable to the general buyer, increasing market size and engaging young people in what is going on in the economy Including women increases opportunities for inclusivity. They have to play their part and of course, follow the rule of law.”
Meanwhile, Nigerian High Commissioner to India Ahmed Sule on Wednesday invited India to do business together, saying people are ready to partner with India. “Nigeria is ready for business…Come to Nigeria…The market is there. And the people are ready to partner with you…” Sule assured that the problems that have happened in the past will not happen again. Will be ,
“All the problems we faced in the past will not happen now, so please I would like you to come to Nigeria… the people are ready to partner with you, the government is ready for you. The President is committed to making business easier Gaya,” Sule said. He added, “Our Nigerian investors, who also come to me from Nigeria, are here. We will probably resume our opportunities in local countries in the future.”
Significantly, Nigerian President Bola Ahmed Tinubu was the first head of state to arrive in the national capital for the G20 summit, which is scheduled to be held over two days on September 9 and 10. The 18th G20 Heads of State and Government Summit in New Delhi will be the culmination of all G20 processes and meetings held throughout the year between ministers, senior officials and civil societies.
A G20 Leaders’ Declaration will be adopted at the conclusion of the New Delhi Summit, setting out leaders’ commitments to the priorities discussed and agreed upon during the respective Ministerial and Working Group meetings. (ANI)
(This story has not been edited by DavidScore staff and was auto-generated from a syndicated feed.)