President Bola Tinubu of Nigeria gave investors the reassurance that his reforms would remove obstacles to profitable commercial operations in his country.
In a meeting on Wednesday (August 16, 2023), Tinubu welcomed Mr. Ade Adeola, Managing Director of Energy and Natural Resources for Standard Chartered Bank in Europe, Africa, and the Middle East.
He noted that his changes will boost administrative and business startup efficiency, as well as security and tax reviews.
President Tinubu stated his administration is attempting to entice investment.
“We are committed to strengthening partnerships, encouraging efficiency and creating a suitable environment for investors.
“We are already working hard on security. We will improve efficiency across the board for good input and output and we will build a very friendly environment for growth and investments,’’ he said.
Affirming that Nigeria is open for business, he further stated that tax reforms were being implemented with strict adherence to international best practices that will benefit businesses for the overall prosperity of the country.
“We believe in partnership, and we will work with all those interested in the progress of Nigeria,’’ He said.
Adeola stated that Standard Chartered Bank is dedicated to facilitating investments in Nigeria, with a focus on energy and natural resources and a sizable portfolio in funding for the oil and gas industry. He also mentioned that the bank supports investments of about two to three billion US dollars each year, and he concluded by saying that:
“We are very excited about your leadership and we want to restate our commitment to the growth of Nigeria,’’.
Former Lagos State Commissioner of Finance Wale Edun was appointed yesterday (Wednesday August 16, 2023) as Minister of Finance and Coordinating Minister of the Economy by President Bola Ahmed Tinubu.
Edun, a Presidential Advisor on Monetary Policies, was included in the initial 28-person cabinet list that President Bola Tinubu gave to the Senate.
Wale Edun’s background
Wale Edun has professional experience in both domestic and international merchant banking, corporate finance, economics, and international finance. He holds economics first and master’s degrees from the Universities of London and Sussex in England. He is an economist.
Edun was the Head of Treasury and then the Deputy Head of Corporate Finance at Chase Merchant Bank. He is now in control of the bank’s Treasury and Money Market operations thanks to his posts.
He was in charge of the Capital Market and Financial Advisory operations and had to speak on behalf of a number of local affiliates and subsidiaries of significant global corporations.
