To honor President Bola Tinubu’s proactive global efforts to attract foreign direct investment into Nigeria, the National Association of Securities Dealers Automatic Quotation System (NASDAQ), the world’s second-largest stock exchange, extended a special invitation to him,leadership reports.
In a historic moment, President Tinubu became the first African President to ring the closing bell at NASDAQ in the world’s financial capital.
According to a statement from presidential spokesman Ajuri Ngelale, President Tinubu, accompanied by Nigerian business leaders and officials from the Nigerian Stock Exchange, seized this unique opportunity to further promote foreign investment. He emphasized Nigeria’s economic prowess and urged potential investors to consider the immense opportunities in the country.
“It’s a great honor for me to be here. I am delighted to bring Nigeria to your doorstep, and I am honored to be here today with a vibrant Nigerian stock market that is set to lead in the West African sub-region,” President Tinubu stated.
He highlighted ongoing efforts by his government to address long-standing challenges, such as stabilizing the foreign exchange rate market and creating a conducive environment for new investors. President Tinubu assured investors of the freedom to bring their money into Nigeria and take it out at any time without restrictions.
At the Nigeria-U.S. Executive Business Roundtable held after the closing bell ceremony, President Tinubu reaffirmed his commitment to attracting foreign investment. He brought successful Nigerian industrialists and public officials to share their experiences and operational plans, bolstering global confidence in Nigeria’s evolving fiscal, monetary, regulatory, and tax policies.
“Nigeria is an unparalleled opportunity that cannot be replicated anywhere else in the world. We have brilliant young innovators and consumers, a unique entrepreneurial spirit, and the ability to forge valuable business partnerships. Don’t be swayed by negative perceptions; we are here to support your success,” President Tinubu assured attendees.
U.S. Deputy Treasury Secretary Wally Adeyemo commended the reforms implemented by President Tinubu during his tenure as Governor of Lagos, noting the positive impact on Nigeria’s commercial landscape. He expressed confidence that Nigeria was becoming a new frontier for American investment.
The President of the American Business Council, Sops Ideriah, emphasized the rising confidence in President Tinubu’s administration regarding business ease, investment promotion, and intervention when necessary to address concerns of American businesspeople.
“Having all stakeholders present, from government officials to private sector leaders, reinforces the message of Nigeria’s economic opportunities,” Ideriah stated.
Zacch Adedeji, Acting Chairman of the Federal Inland Revenue Service (FIRS), assured American business leaders that under President Tinubu’s leadership, the tax authority would focus on proportionate taxation of fully established industries, making the tax assessment and payment processes efficient and transparent.