The decision to invest $520 million in specialized agro-processing zones was made by the African Development Bank (AfDB), and President Bola Ahmed Tinubu has voiced his appreciation of this choice. In addition to this, he applauded the leader of the international organization, Dr. Adewunmi Adesina, for further opening up the economy to investments, which will lead to an increase in the number of available jobs and a reduction in the prevalence of poverty.
Tinubu noted that the agro-industrial project strengthens an area of the country’s comparative advantage as he mentioned other areas of priority that require Foreign Direct Investment (FDI) while he was greeting Adesina after the two-day summit on a new global financing accord in Paris. Tinubu was meeting with Adesina after the summit took place. Adesina was in Paris to discuss the new global financing accord. Adesina participated in the summit that was held in Paris.
As a consequence of this, the President asked the bank to invest funds in programs that target the empowerment of women and young people, and he also praised the President of the African Development Bank for his vision of establishing a Youth Entrepreneurship Bank in Nigeria, which will give credit, skills, and various other forms of support to young Nigerians. This was done in order to empower young Nigerians.
Tinubu gave Adesina the assurance that the Federal Government would provide all of the help necessary to ensure the continuation of the projects, and Tinubu stated that the provision of power would continue to be a priority that demanded prompt attention. Adesina was relieved to hear this news.
Tinubu was singled out for praise by the President of the African Development Bank (AfDB) during his speech for adopting the daring moves that have repositioned the Nigerian economy within three weeks and encouraged the hunger of investors from different areas of the world.
“I admire the president for having the foresight, fortitude, and determination to do rid of the fuel subsidy in order to get macroeconomic policy headed in the correct direction. Birds are unable to fly when their wings are tucked behind them in this position. According to his explanation, each and every one of those activities is a sign that investors find appealing.
Adesina indicated that the bank would provide support for the economic policies of the new administration in Nigeria, which places the requirements of the people at the forefront of efforts to achieve development goals.
During the course of another discussion, Tinubu spoke with officials from the companies Airbus and ATR. He gave the executives from Airbus and ATR the assurance that the aviation industry will be streamlined in the future in order to boost efficiency, notably in the field of aircraft maintenance and training.
The senior vice president of public affairs for Airbus/ATR, Laurent Rahul Domergue, provided the president of Nigeria the assurance that the company was ready to invest in the aviation sector, particularly in the field of providing planes to Nigeria. This guarantee was given by Domergue to the president of Nigeria.
Tinubu, on the other hand, was expected to have returned to Abuja the day before yesterday; however, instead of doing so, he has made a speedy private journey to London, which is located in the United Kingdom. It is hoped that the President will return to the country in time for the upcoming Eid el-Kabir holiday, which will be celebrated in a few days.