President Bola Ahmed Tinubu has assured Saudi Arabian investors of a conducive business environment, promising to eliminate bottlenecks and facilitate seamless fund inflow and outflow. Speaking at the Nigeria-Saudi Investment Roundtable in Riyadh, Tinubu emphasized his commitment to economic reforms, declaring Nigeria “open for business” and dispelling negative perceptions about ease of doing business, monetary policy, and trade cooperation.

Tinubu highlighted the removal of red tape and the implementation of free-market economics, ensuring easy financial transactions. He expressed confidence in his team’s ability to drive economic prosperity, citing Nigeria’s vibrant youth population as a valuable asset for innovation and engagement with global services.

The president’s candid expression of Nigeria’s readiness for serious investors resonated with Saudi Arabia’s trade and investment minister, Kahlid El-Falih. El-Falih acknowledged Tinubu’s passionate commitment and expected a positive response from the Saudi investment community, translating into substantial investments across various sectors of the Nigerian economy.

Alhaji Aliko Dangote, Chairman of Dangote Industries, echoed the sentiment, describing Nigeria as the “world’s best-kept secret” in terms of investments and returns. He anticipated a mutually beneficial relationship between Nigerian and Saudi businesses, emphasizing the upcoming launch of the Nigeria-Saudi Business Council as a significant opportunity for collaboration and expansion.

Tinubu’s reassurance and commitment to an investor-friendly Nigeria reinforce the country’s appeal on the global stage, setting the stage for increased economic cooperation between Nigeria and Saudi Arabia.