President Bola Ahmed Tinubu on Sunday said Nigeria’s tech environment is ready for foreign investments.
“We have an infrastructure deficit and you can take advantage of that and invest early and deeply in an environment that is absorptive and ready for it.
“It is modeled after a willing-buyer and willing-seller arrangement. Easy capital in and easy capital out.”
Tinubu was speaking with the President and Chief Executive Officer of Samsung, Hong Namkoong, and the Chairman of Samsung Investment Global, Jungwook Kim on the sidelines of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development.
He hailed the country’s local investment environment, which according to him ensures effortless access to capital for investors both within and outside the country.
He further lauded Nigerian Youths who are always looking to succeed without waiting for the Government.
In a statement titled ‘President Tinubu to Samsung CEO: Nigeria is the best destination in terms of value for money; your technology with Nigerian ingenuity will create limitless opportunities’ by Presidential spokesman, Ajuri Ngelale, Tinubu projected Nigeria’s youth before the world as people who are always ready to learn and improve.
He, therefore, called for provision of opportunities for the youths to make a mark.
“Nigeria is a very huge country with a huge and able population. We have vibrant youths ready to learn and progress.
“In fact, our young do not wait for us. They go ahead of us in their determination to succeed.
“We must keep up and provide opportunities for them to excel,” he affirmed.
The Nigerian C-in-C further spoke about more partnership in the crude oil, natural gas, renewable energy, engineering, technology and agriculture sectors.
“We are ready to discuss and discover one another more. We can benefit so much from a collaborative effort.
“You have the know-how, and we have the willingness. Seize this opportunity,’’ the President told the Samsung executives.
In response, Samsung Chairman Kim expressed the group’s interest in widening its presence in Nigeria.
“We have built many power stations around the world. We are top of the class in gas-fired power plant construction.
“We have an ever-increasing portfolio in the production of renewable energy solutions around the world.
“We can make a lot of progress in Nigeria’s energy sector as well as bringing our technology to other key productive sectors,” said Kim.
“Transmission lines and smart grids are areas where we see increasing demand globally. You need infrastructure anywhere you go.
“We are good at metropolitan rail lines; we are good at bridge construction and any of these types of infrastructure projects, in addition to oil and gas engineering projects.
“We are looking forward to knowing Nigeria better under your leadership and to see how we can penetrate the Nigerian market deeper. This is a great opportunity for us.”
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