On Thursday, presidential spokesperson Ajuri Ngelale announced that President Bola Tinubu became the first African leader to ring the closing bell of the National Association of Securities Dealers (NASDAQ) Automatic Quotation System, the world’s second-largest stock exchange. During this historic moment, the President was surrounded by Nigerian business leaders and officials from the Nigerian Stock Exchange.
He took the opportunity to promote foreign investment and express his pleasure at being there, bringing Nigeria to the doorstep of the financial markets.
He also expressed his honor in the presence of a growing Nigerian stock market that would expand throughout the West African sub-region. The NASDAQ is a public online market that trades approximately 5,000 stocks, primarily large technology and biotechnology corporations. Transitional phrases were used to connect ideas.
President Tinubu emphasized that Nigeria, as the largest economy in Africa, offers investors numerous opportunities to confidently invest their money.
He further discussed his government’s actions to address persistent challenges, such as streamlining and stabilizing the exchange rate market, which will facilitate smooth investment flow into the country. President Tinubu also assured investors that they can easily receive and withdraw their money, encouraging them to invest in Nigeria.
During the Nigeria-US Business Executive Roundtable, President Tinubu discussed Nigeria’s potential for investment and highlighted the successes of Nigerian industrialists and public officials who shared their experiences and plans. He emphasized his efforts to increase global confidence in Nigeria’s fiscal, monetary, regulatory, and tax policies.
President Tinubu believes that Nigeria offers unparalleled investment opportunities, with a large and innovative young population and a strong entrepreneurial spirit. Nigerian businesses thrive and partner with other companies, creating a thriving market with ample opportunities for all.
“Be careful what you hear about Nigeria. They may discourage you from giving up an important opportunity that others will take advantage of. We are here for you. We will give them all the support they need to succeed and succeed abundantly,” the President assured at the round table while he pointed to the cabinet officials.
U.S. Deputy Treasury Secretary Wally Adeyemo told U.S. business leaders that he was just hours away from arriving in New York from Lagos, Nigeria, where he was on an official visit that later became a fact-finding mission.
“In Lagos, I saw first-hand some of the major reforms you implemented as Governor of Lagos and the transformative effect they have had on the commercial capital of Nigeria. People have attested that the reforms you have implemented as President are rapidly increasing confidence. American companies are paying attention to this, and from what we’ve seen ourselves, Nigeria is proving to be a new frontier for investment. We will encourage our businesses on our part as those reforms continue to deepen,” Adeyemo said.
American Business Council President Sops Ideriah said the roundtable’s broad participation by U.S. business chief executives served as a testament to the extent to which confidence is growing in response to the actions and words of President Bola’s administration. Tinubu regarding ease. of business, investment promotion, and his willingness to personally intervene when necessary to alleviate the historical concerns of American businessmen about doing business in Nigeria.
“Having all stakeholders in the room, with the presence of His Excellency the President of Nigeria, from government actors at the federal and state levels to ministers and tax authorities present, as well as private sector industrialists in Nigeria. “We are very positive about Nigeria’s potential and we are simply reinforcing the message to our colleagues about the economic opportunities that exist there,” Ideriah said.
The Acting Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has assured American captains of industry that under the leadership of President Bola Tinubu, the country’s highest tax authority will focus its efforts not on taxing seeds, but only in the proportional taxation of the fruit of a fully formed industry, through an efficient political synergy with the subnational authorities of Nigeria.
“The president is a business facilitator, not an obstacle. Everything we do will be aimed at making your tax assessment and payment processes as digitally efficient and transparent as possible. We are not looking for the seed, but for the fruit, and we will maintain this commitment,” Adedeji said.