President Bola Tinubu on Sunday signed seven bilateral, multi-sectoral agreements with the government of Qatar, aimed to boost investment opportunities between the two countries.
This was disclosed in a statement by the special adviser to the president on media and publicity, Ajuri Ngelale.
Ngelale noted that the seven agreements signed are: cooperation agreement in the field of education; regulation of employment of workers with the Government of Qatar; establishment of a joint business council (JBC) between the Qatar Chamber of Commerce and Industry and the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA); in addition to a cooperation agreement in the field of youths and sports.
The spokesperson also noted that historic agreements between both nations will open a gateway for leveraging the potential of mutual cooperation in pivotal sectors of education, enterprise development, investment promotion, youth empowerment, mining, tourism, and sports.
What the President is saying
During the signing ceremony at the Qatar Presidential Palace, President Tinubu communicated to his host Nigeria’s readiness to attract investors, highlighting the current reforms that support innovation, investment returns, and multiculturalism.
- “Our greatest strength is our people. Our strength lies in the capacity of Nigerian youths. They have energy, talent, and self-belief. They are quality partners for Qatari industry. They are educated and reliable, and they are proactively seeking to add value wherever they are.
- “We have seen clearly the rapid pace and thorough quality of Qatar’s development process. It is impossible not to be moved by what you have accomplished. The leadership in the country has proven its mettle, and we are here to gain deeper insight.
- “There is nowhere in the world where you will find return on investment at the level of what you will see in Nigeria. A massive market of over 200 million skilled Nigerians, always industrious and ready to work.
- “We face some short-term turbulence at the moment, but we have a government today that reflects the dynamism and talent of the Nigerian people. We are implementing the right solutions. This team works collaboratively with each other and our partners. Nigeria is ready for serious business,” the President stated.
What the Qatari Government is saying
On his part, the Emir of the State of Qatar, His Highness, Sheikh Tamim bin Hamad Al Thani, emphasized that Qatar is open to President Tinubu’s investment push, recalling that he traveled to Nigeria in 2019 owing to his belief that Nigeria is an important and strategic ally on its own and within the context of its role in regional affairs.
- “I have no doubt about the great capacity of the Nigerian people. Everywhere in the world, they are known for their brilliance and hard work.
- “We only need to ensure that this is happening inside of Nigeria rather than outside. The investments we have made around the world have been very fruitful.
- “This is because we take our time and study opportunities before we invest the commonwealth of our people. It is not my money. The money we invest belongs to the future generations of Qatar.
- “Mr. President, I am very encouraged by your actions and your passion for creating new opportunities. We are very open to this, and follow-up is everything at this point. The will is there for both of us, but we must follow up. I will send a team of officials to Nigeria after Ramadan, and we will advance discussions on what some of the actionable investment opportunities are,” the Qatari leader said.
More Insights
- President Tinubu therefore named the Coordinating Minister of the Economy and Minister of Finance; Mr. Wale Edun is the team leader of the government team that will interface with Qatari authorities in investment identification and implementation moving forward.
- Furthermore, during the bilateral deliberations, President Tinubu enabled a brief presentation to the Emir by the Minister of Solid Minerals Development, Dr. Dele Alake, who spoke in detail about the high-grade of several minerals, including lithium, is immediately derivable across the country with an emphasis on imminent opportunities for local mineral processing and value-additive industry in the sector.
- The bilateral engagement was followed by a closed-door meeting between the two Heads of state before they proceeded to the signing ceremony for seven bilateral agreements across multiple sectors.