Tinubu Assures Qatari Investors Seamless Repatriation of Funds

March 4, 2024
Tinubu Qatari Investors

By Aduragbemi Omiyale

Any investor, especially from Qatar, who wants to invest in the Nigerian economy will not encounter bottlenecks while repatriating their funds, President Bola Tinubu has assured.

Due to the foreign exchange (FX) crisis in the country, many companies, particularly foreign airline operators, have had their funds trapped, forcing a few of them, including Emirates, to suspend operations in Nigeria.

On Sunday, at the Nigeria-Qatar Business and Investment Forum in Doha, Mr Tinubu said such may never happen again, urging business persons from the Middle East nation not to “miss out on the golden opportunity we present.”

“I am assuring you, it is free entry and free exit. Your funds will flow smoothly into and out of our country. Bring your investments,” the President assured.

He disclosed that since the inception of his administration, there have been reforms put in place to address some challenges, noting that they have been yielding positive results.

“I am here to give you the assurance that reforms are going on; forget about whatever you heard in the past. Whatever the obstacle or problem that some of you might have experienced; it is in the past, because there is no obstacle in the future,” he said.

Mr Tinubu invited investors to explore investment opportunities in the oil and gas, solid minerals, tourism, healthcare and other sectors, adding that Nigeria is ready for serious business.

He declared that any Nigerian official who demanded kickbacks would be dealt with, urging investors to report directly to him when such happens.

“Do not offer a bribe to any of our people, and if it is requested or taken from you, report to us. You will have access to me.

“Nigeria will no longer be defined by the past, but by what we do now and moving forward. Do not let perceptions become a hindrance to your will to invest.

“Nigeria is serious about revolutionizing investment promotion. We are removing obstacles today and we are going to continue to remove all obstacles. We have done so much within nine months,” he said.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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