President Bola Tinubu has told investors that the greatest economy is Nigeria with immense investment opportunity.
He made this disclosure on Wednesday in NASDAQ, New York when honoured with the privilege to ring the closing bell as part of the proceedings at the Executive Business Dialogue in the United States.
While speaking at the event, the president assured investors of the optimal return on their investment. He also highlighted certain structural reforms his administration has implemented to ease the operation of doing business in the country.
According to the president, Nigeria is the greatest economy anyone can invest in presently.
He said,
- “It’s a great honour for me to be here. I am happy to bring Nigeria to your doorstep and honoured that we are here today in a public market that involves the West Africa subregion. The greatest economy is Nigeria. There’s an immense opportunity in Nigeria that you can invest your money without fear.
- “We’ve removed a lot of bottlenecks. We’ve cleared the corrupt oil subsidy. And we have also retooled the exchange rate to a reliable, dependable, one-figure floating of the Naira. You’re free to take in your money and bring out your money. I count on you to invest in Nigeria.
This event was a collaborative effort by the United States Chamber of Commerce, Nigerian Exchange Group Plc, and Nigerian Investment Promotion Council.
The NGX Group’s Non-Deal Roadshow features a prominent business dialogue, integral to the efforts of the new administration in reigniting foreign investor interest in the Nigerian economy.
In a statement it issued about the event, the NGX said,
- “The Non-Deal Roadshow would help to foster dialogue, strengthen economic ties, and enhance collaboration.
- The Roadshow is part of the Group’s drive to support FG’s agenda to elicit the interest of foreign investors in the Nigerian economy.
- The goal is to display the robustness of the capital market and leverage the pace of reforms by the new administration of President Tinubu; enabling foreign investors to recognise the value created by the changing landscape.”
In the Domestic & Foreign Portfolio Investment Report of July 2023, NGX reported a decline in total foreign transactions by 11.37% from N45.74bn in June 2023 to N40.54bn in July 2023.
Furthermore, foreign inflow for July plummeted by 58.41% to N9.45bn compared to the N22.72bn recorded in the previous month.
In its efforts to attract more listings, NGX Group has set its sights on actively involving select companies and presenting them to an international investor audience.
The focus will be on highlighting NGX along with key players in the blue-chip market.
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NGX Group has lined up several other noteworthy events from September 20 to 25. These include a Non-Deal Roadshow scheduled for New York and London, organized in conjunction with the Debt Management Office.
Leading the charge at this event will be Wale Edun, the Minister of Finance and Coordinating Minister of the Economy.
Furthermore, NGX Group is gearing up for a tech-themed gathering titled “Invest in Africa’s Future,” in partnership with the Ministry of Communications, Innovation, and Digital Economy, as well as Future Africa.
Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, is poised to be a key figure at this event.
The tech event will among other objectives explore how the newly created NGX Technology Board can support capital formation in the technology industry and provide an opportunity for US institutional investors interested in investing in Africa, to meet with prominent African venture capital firms and tech founders.
In a notice on its side about the event, NASDAQ said that the bell-ringing ceremony with President Tinubu symbolizes the significance of the economic ties between the United States and Nigeria.
NASDAQ is the most active stock trading venue in the US by volume and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange.
