In a significant meeting held on Thursday in Abuja, President Bola Tinubu reiterated his commitment to fostering a pro-business environment in Nigeria, emphasizing the need for investors to drive economic growth. The President met with a delegation from Airtel, led by Chairman Sunil Bharti Mittal, where he discussed plans to review the telecommunications sector’s regulatory framework.
During the meeting at the State House, President Tinubu expressed gratitude for Airtel’s openness and the confidence shown in Nigeria’s economic potential. He highlighted the importance of learning from global best practices, particularly from India, to enhance the telecoms ecosystem in Nigeria. “We are prepared to learn. We are not ashamed of copying what is working in other climes. It is for the good of all of us, and Nigeria is so critically important that we must give attention to those revolutionary intentions that can make business work,” Tinubu stated.
The President also underscored the importance of tax reforms in creating a favorable climate for investors, assuring the Airtel delegation, “We will find a way to work with tax administrators to ensure that whatever we have to do, we will encourage growth and opportunities.”
Minister of Communication, Innovation, and Digital Economy, Bosun Tijani, acknowledged the President’s ongoing support for the telecoms sector, particularly the approval for the protection of critical national assets such as fiber optic and undersea cables. He assured that the Office of the National Security Adviser is actively implementing and enforcing the necessary laws.
Chairman Mittal commended President Tinubu for the transformative economic reforms initiated since he took office. Drawing parallels to India’s economic recovery in the early 1990s, Mittal expressed optimism about Nigeria’s potential for growth under Tinubu’s leadership. “You have taken a long-term position. It is my belief and hope that you have created a legacy for yourself,” he remarked. He further noted, “This will be a turning point, and I would like to commend you for having held a firm position and taken the country forward.”
Bayo Onanuga, Special Adviser to the President on Information and Strategy, issued a press release following the meeting, summarizing the discussions and emphasizing the administration’s commitment to creating an environment conducive to investment and growth.
Mittal also encouraged Nigerians with significant financial portfolios abroad to invest in the country, noting a renewed sense of calm among businesspeople in Nigeria. “I have been speaking to people in Nigeria, friends and business people, and they are all now feeling calm, and when they start to get back, they will move very fast,” he stated.
In conclusion, President Tinubu’s commitment to supporting a robust business environment and attracting investors remains a focal point for his administration, promising a brighter economic future for Nigeria.
Newspot Nigeria
PRESIDENT TINUBU TO AIRTEL CHAIRMAN: “I AM PRO-BUSINESS. NIGERIA NEEDS INVESTORS LIKE YOU TO GROW”
President Bola Tinubu, Thursday in Abuja, said the telecoms sector’s regulatory framework and operations would be reviewed to reflect global best practices, with a greater focus on protecting infrastructure.
President Tinubu spoke at a meeting with an Airtel delegation led by Chairman Sunil Bharti Mittal at the State House.
“I am grateful for your openness, readiness, and confidence, which moved us very close to the Prime Minister of India. When he was here, we discussed things at length.
“The entire ecosystem will be further examined, and if there is anything we can copy from India, we are ready to do so. We are prepared to learn. We are not ashamed of copying what is working in other climes.
“It is for the good of all of us, and Nigeria is so critically important that we must give attention to those revolutionary intentions that can make business work. I am pro-business, and I will continue to be that. I can give you that assurance,” he said.
The President noted that the tax reforms will create a more favourable climate for investors.
“We will find a way to work with tax administrators to ensure that whatever we have to do, we will encourage growth and opportunities. We are ready to do that”.
The Minister of Communication, Innovation, and Digital Economy, Bosun Tijani, thanked the President for consistently supporting the telecoms sector’s growth.
Tijani said the approval by the President for the protection of fibre optic and undersea cables as critical national assets would further stimulate growth in the industry, assuring that the Office of the National Security Adviser (NSA) has started implementing and enforcing the law.
The Chairman of Airtel commended the President for the two-pronged economic reforms that had transformed the economy for future growth.
“When you took office, you made some promises. Given the country’s situation, I was unsure how deep and far you could take your commitments.
“I am indeed reminded of 1991, when India was in a similar situation, and we were practically on our knees, having pledged 500,000 tons of gold to the Bank of England, and our vessel in Tokyo had been put up for sale.
“During that time, the Prime Minister and his team took similar reforms to what you are taking now in Nigeria, and India has never seen better times after that.
“The duties went down, the rupee was floated, and it depreciated significantly. Relicensing happened, and it was the dawn of a new world in India. We just moved forward,” he said.
Mittal said the reforms turned India into one of the largest economies in the world.
“I feel that what you have done here is unprecedented in a challenging time. Only people of resolve and steel can endure this huge pressure, floating the naira, which moved from N450 to about N1900 and is now coming back to N1400 to N1500.
“It has been a remarkable achievement celebrated by the entire world. This was much required, and you delivered on your promises,” the Airtel Chairman told President Tinubu.
He also commended the removal of the petrol subsidy.
“The second one was the removal of subsidy, which was a very tough decision for any politician. It was unpopular and difficult, but you held your position, knowing fully that not doing it would not help the country.
“You have taken a long-term position. It is my belief and hope that you have created a legacy for yourself. Your first term as President will mark a watershed in the development of your country.
“This will be a turning point, and I would like to commend you for having held a firm position and taken the country forward,” he added.
Mittal said more Nigerians should be encouraged to invest in the country, particularly those with huge financial portfolios abroad.
“I have been speaking to people in Nigeria, friends and business people, and they are all now feeling calm, and when they start to get back, they will move very fast. I have experienced this in India,” he stated.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
February 27, 2025
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