Tinubu Vows Pro-Business Reforms, Calls for More Investment

President Bola Tinubu has reaffirmed his commitment to fostering a pro-business environment in Nigeria, assuring investors that his administration is taking bold steps to enhance economic growth and stability.

Speaking during a meeting with an Airtel delegation led by Chairman Sunil Bharti Mittal at the State House in Abuja on Thursday, the President emphasized the need for regulatory reforms and investment-friendly policies in the telecommunications sector.

President Tinubu highlighted that his government would review the regulatory framework governing the telecoms sector to align with global best practices and prioritize infrastructure protection. He acknowledged the strong business relations between Nigeria and India, indicating a willingness to adopt effective policies that have worked in other economies.

“I am grateful for your openness, readiness, and confidence, which moved us very close to the Prime Minister of India. When he was here, we discussed things at length. The entire ecosystem will be further examined, and if there is anything we can copy from India, we are ready to do so. We are prepared to learn. We are not ashamed of copying what is working in other climes. It is for the good of all of us, and Nigeria is so critically important that we must give attention to those revolutionary intentions that can make business work,” Tinubu said.

The President assured investors that ongoing tax reforms would create a more favorable business climate, stating, “We will find a way to work with tax administrators to ensure that whatever we have to do, we will encourage growth and opportunities. We are ready to do that.”

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Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, expressed appreciation for President Tinubu’s consistent support for the telecoms sector. He noted that the approval to classify fiber optic and undersea cables as critical national assets was a significant step towards industry growth. He further confirmed that the Office of the National Security Adviser (NSA) has commenced implementation and enforcement of the protective measures.

In response, Airtel Chairman Sunil Bharti Mittal commended President Tinubu’s economic reforms, likening Nigeria’s current transformation to India’s economic revival in 1991. He praised the administration for its decisive policy actions, including floating the naira and removing the fuel subsidy.

“When you took office, you made some promises. Given the country’s situation, I was unsure how deep and far you could take your commitments. I am indeed reminded of 1991, when India was in a similar situation, and we were practically on our knees… The Prime Minister and his team took similar reforms to what you are taking now in Nigeria, and India has never seen better times after that,” Mittal remarked.

Mittal highlighted the importance of these reforms, crediting them with strengthening investor confidence and putting Nigeria on the path to economic revitalization. He urged wealthy Nigerians with offshore investments to reinvest in the country, stressing that a stable economic environment would attract substantial capital inflow.

“I have been speaking to people in Nigeria, friends and business people, and they are all now feeling calm. When they start to get back, they will move very fast. I have experienced this in India,” he stated.

With these commitments, President Tinubu reaffirmed his administration’s dedication to policies that support business growth, attract foreign direct investment, and position Nigeria as a competitive player in the global economy.