Bola Tinubu urged multinational corporations in Nigeria, emphasizing his administration’s commitment to eliminating all obstacles hindering the seamless operation of their businesses.
He asserted that no challenge is insurmountable in the pursuit of transforming Nigeria into a secure and welcoming destination for substantial investments.
“We are very focused on resolving all investment-related issues. There is no bottleneck that is too difficult for us to remove in our determined march toward making Nigeria the African haven for large-scale investment in all key sectors.
“We need each other,” Tinubu told a visiting delegation of the management of Shell Group led by its Global Integrated Gas and Upstream Director, Ms. Zoe Yujnovich, at the State House, Abuja.
On Friday, Tinubu‘s Special Adviser on Media and Publicity, Ajuri Ngelale, issued a statement wherein Tinubu conveyed optimism about the prospect of heightened investment from the Shell Petroleum Development Company of Nigeria.
Highlighting the enduring relationship between Nigeria and Shell, dating back to the discovery of the nation’s initial commercial oil field in 1956, Tinubu reassured the Shell delegation of his administration’s dedication to safeguarding and promoting both current and prospective investments.
“We have made progress since our last meeting. I will continue to support and encourage you on this path.
“There is no doubt that there is a significant focus on investment in and around the continent. I am spearheading Nigeria’s global march for new investments at home.
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“In view of our long-term relationship that has been established over the years, we want you to do more, and we are ready to encourage you in every way possible,” he added.
Tinubu’s comments came in response to the recent departure of several multinational corporations from the country in the preceding months.
On Thursday, Parallel Facts reported concerns raised by Peter Obi, the Labour Party’s presidential candidate in the last general elections, regarding the exodus of multinational companies from Nigeria.
The most recent departure was that of Procter & Gamble (P&G), the world’s largest company in personnel care and household products.
P&G, known for iconic brands like Pampers and Gillette, announced on Tuesday its intention to shift from local production to importing its products, signaling a gradual withdrawal of its on-ground presence in Nigeria.
Expressing his reaction to P&G’s exit, the former governor of Anambra State, Peter Obi, lamented that the departure of multinational companies from Nigeria was indicative of a negative medium- to long-term prospects strategy for the country.