President Bola Ahmed Tinubu commended Dr. Adewunmi Adesina, head of the multilateral organization, for further opening up the economy to investments that create job opportunities and lessen poverty, and he welcomed the African Development Bank’s (AfDB) investment of $520 million in specialized agro-processing zones.
After the two-day meeting in Paris on a new global finance agreement, Tinubu welcomed Adesina and noted that the agro-industrial project enhances one aspect of the nation’s competitive edge while also outlining other high-priority areas that need foreign direct investment (FDI).
As a result, the President urged the bank to sponsor initiatives that aim to empower women and young people, while also praising the AfDB President for his vision of establishing a Youth Entrepreneurship Bank in Nigeria that will offer young Nigerians loans, training, and other forms of support.
Assuring Adesina that the Federal Government would offer all necessary support to ensure the projects’ continuation, Tinubu added that energy remained a priority area in need of immediate attention.
In his remarks, the president of the AfDB congratulated Tinubu for the audacious moves that have repositioned the Nigerian economy within three weeks and piqued the interest of international investors.
“I commend the president’s foresight, boldness, and determination for macroeconomic policy direction by removing the fuel subsidy. No bird can fly with its wings tied behind. All those steps are signals investors like,” he said.
According to Adesina, the bank will assist the economic goals of Nigeria’s new government which prioritize the welfare of the populace.
At a different gathering, Tinubu met with officials from Airbus/ATR and assured them that the aviation industry would be simplified for efficiency, particularly in terms of training and aircraft maintenance.
Laurent Rahul Domergue, senior vice president of public affairs at Airbus/ATR, reassured the president that the firm was ready to invest in the aviation industry, notably in providing aircraft to Nigeria.
Tinubu has since traveled to London, United Kingdom, on a brief private visit. He was originally expected to return to Abuja yesterday. To coincide with the impending Eid-el-Kabir festival, the president will return to the nation.
