President Tinubu promises to improve the economic environment for businesses

President Bola Tinubu on Wednesday in Abuja assured investors that his ongoing repositioning of the economy will receive a boost as he conducts an intensified removal of all bottlenecks in the way of efficient business startup and administration in Nigeria, with a particular emphasis on efficiency in service, tax reviews and improved security.

President Tinubu said his administration was already working hard on making a difference in attracting investments.

He said this when he received Ade Adeola, Managing Director of Energy and Natural Resources in Europe, Africa and Middle East for Standard Chartered Bank, along with his team.

He said: “We are committed to strengthening partnership, encouraging efficiency, and creating a suitable environment for investors. We are already working hard on security.

“We will improve efficiency across the board for good input and output, and we will build a very friendly environment for growth and investments.”

The President told the delegation that tax reforms are being undertaken with a close observance of best practices across the globe, which will favour businesses for the collective prosperity of the nation.

He added: “We are open for business. We believe in partnership, and we will work with all those interested in the progress of Nigeria.”

In his remarks, Adeola said the bank had been committed to enabling investments in Nigeria for many years, while focusing on energy and natural resources with a huge portfolio in funding for the oil and gas industry.

“We are very excited about your leadership, and we want to restate our commitment to the growth of Nigeria,” he said.

Adeola told the President that the bank supports investments of about $2 billion to $3 billion annually.