President Bola Tinubu has provided reassurances to foreign investors regarding the repatriation of funds as part of the Federal Government’s ongoing efforts to attract more businesses to Nigeria.
Tinubu made these remarks on Friday while receiving Letters of Credence from the Ambassador of Hungary, Lorand Endreffy; the High Commissioner of Rwanda, Christophe Bazivamo, and the Ambassador of Ukraine, Ivan Kholostenko, at the State House in Abuja.
Tinubu assured the Rwandan High Commissioner that concerns related to trapped funds are actively being addressed, emphasizing a commitment to processing funds promptly for release.
In a statement from his spokesman Ajuri Ngelale, Tinubu highlighted the collaborative approach, stating, “We are one family on the continent. We will continue to promote democracy and good governance. I will maintain an open-door policy, and the Minister of Foreign Affairs and the Chief of Staff are also available.”
He further addressed specific issues related to taxation, stating, “For the avoidance of doubt, we are already working on the issues of double taxation, and it will be properly streamlined to favor business growth. Nigeria is home and a haven for investors.”
The Hungarian Ambassador commended President Tinubu for strategic decisions aimed at repositioning the Nigerian economy and identified areas of collaboration, including education, agriculture, food security, security, and medical technology.
In addressing the Ukrainian Ambassador, Tinubu affirmed Nigeria’s commitment to global peace and harmony. “We are with you in prayers. We will continue to support good governance and democracy,” he stated.
The President’s assurances on fund repatriation and streamlined taxation aim to enhance investor confidence and promote economic growth in Nigeria.
