Yesterday in Abuja, President Bola Tinubu assured the manufacturing and service sectors that more changes would be unveiled to enhance efficiency and attract investments. He stated that the ongoing economic ‘revolution’ would be intentionally directed towards benefiting and empowering the extensive youth population in the country.
“We have a duty to revamp the economy so that our young people can partake in the nation’s prosperity; otherwise, we are simply waiting for our dreams to be charted,” expressed the president during a meeting with a delegation from MTN, led by the group chairman, Mcebisi Jonas, at the State House.
“If you encounter any issues or obstacles, please let us know. We are prepared to eliminate barriers to investment in the economy,” added the president while acknowledging the significant changes occurring worldwide, mainly driven by technology.
In a statement by presidential spokesman, Dele Alake, Tinubu emphasized that the escalating rural-urban migration could be effectively managed through increased investments in digital technology, which would directly enhance healthcare systems and education for the underprivileged.
“I am pleased that you are transitioning from corporate social responsibility to a more proactive approach with technology, in order for us to explore potential partnerships,” declared the president.
“By collaborating with us, you can contribute significantly to the economy. We believe that no one can thrive in isolation. The structural adjustments we are implementing are designed to ensure that we are heading in the right direction and reaching a destination that caters to our people.
“Together, we will ensure that the people have a share in that prosperity. Together, we will build an informed society. We need to reassess our journey. I am glad to see that the stock market is responding positively to the structural adjustments,” he added.
The chairman of the MTN group announced that the company has a plan to invest $3.5 billion in the economy over the next five years. He also expressed their broader vision of becoming a pan-African company by redirecting investments from the Middle East and focusing more on Africa, particularly Nigeria, where they achieve the highest return on investment.
Jonas congratulated the president for the surge of interest in the country since assuming office, promising to mobilize other investors with approximately $1.5 trillion to consider Nigeria as a preferred investment destination. He acknowledged that reforms in the country have been structured to promote business and encourage inclusive development.
“The message you have conveyed to us is that Nigeria is a viable investment opportunity, and with your election, we are witnessing decisive, swift, and keen interest in structural reforms,” he stated.
The meeting was also attended by Ralph Mupita, the group president/CEO of MTN; Ernest Ndukwe, chairman of MTN Nigeria; and Olutokun Karl Toriola, the chief executive officer.