In a historic moment for both Nigeria and the African continent, President Ahmed Bola Tinubu rang the closing bell at the National Association of Securities Dealers Automatic Quotation System (NASDAQ) in the world’s financial capital, New York. The invitation to President Tinubu to perform this prestigious act underscores his unwavering commitment to aggressively attract foreign direct investment into Nigeria, home to the world’s second-largest stock exchange.
Flanked by prominent Nigerian business leaders and officials from the Nigerian Stock Exchange, President Tinubu seized the opportunity presented by this historic occasion to further champion Nigeria’s appeal as a global investment destination. Standing before the bustling financial markets of the renowned stock exchange, he declared, “It’s a great honour for me to be here. I am happy to bring Nigeria to doorsteps.”
The Nigerian President went on to highlight the immense opportunities that Nigeria offers to investors, emphasising the country’s status as the largest economy in Africa. President Tinubu assured potential investors of a conducive investment climate, marked by stability and predictability.
He asserted, “I am honoured that we are here today with a bubbling Nigerian stock market that will evolve in the West African sub-region The greatest economy in Africa is Nigeria. There is an immense opportunity in Nigeria where you can invest your money without fear.”
At the Nigeria-U.S. Executive Business Roundtable held following the NASDAQ closing bell ceremony, President Tinubu underscored his commitment to facilitating foreign investments. He mentioned that he had intentionally brought accomplished Nigerian industrialists and government officials to share their experiences and operational strategies, adding to the efforts aimed at bolstering global investor confidence in Nigeria’s ongoing fiscal, monetary, regulatory, and tax policy reforms.
President Tinubu emphasised the unique aspects of Nigeria’s market. He lauded the entrepreneurial spirit and innovation of Nigeria’s young population, highlighting their capacity to drive large-scale business endeavours, – “Nigeria is an opportunity that is impossible to replicate or find elsewhere in any part of the world. We have brilliant young people who both innovate and come at a large scale. Our entrepreneurial spirit is a major part of what makes our market totally unique, aside from demography. Nigerians build businesses, and Nigerian businesses partner with other businesses to conduct larger businesses. There is enough value to spread around. Be careful of what you hear about Nigeria. You may be dissuaded out of a major opportunity that others will take up. We are here for you. We will give you all the support you need to succeed and succeed abundantly.”
The U.S. Deputy Treasury Secretary, Wally Adeyemo, commended the reforms initiated by President Tinubu, hailing them as transformative for Nigeria’s business landscape. Adeyemo, who recently visited Lagos, noted the significant positive impact of these reforms on Nigeria’s commercial capital.
The American Business Council President, Mr. Sops Ideriah, highlighted the increased confidence in Nigeria due to President Tinubu’s administration’s pro-business stance. He assured that stakeholders were positive about Nigeria’s economic potential and were working to communicate these opportunities to American business leaders.
Additionally, the Acting Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, reiterated the commitment of Nigeria’s tax authority to facilitate business operations and ensure efficient tax assessment and payment processes under President Tinubu’s leadership.