Netherlands to invest $250m in Nigeria’s economy

Mark Rutte, the Prime Minister of the Netherlands, on Thursday said the country will invest $250 million in Nigeria in the next few months, including a $100 million investment in a waste-to-wealth industrial facility in Lagos State.

The Rutte stated this when he received President Bola Tinubu in his official residence also known as known as ” The Catshuis”, in The Hague, on Thursday.

The Prime Minister while acknowledging President Tinubu’s economic reforms which have engendered greater confidence in the Nigerian economy by international investors, said that “Dutch investors have activated another set of $250 million worth of new investments over the next few months, including a $100 million investment in a waste-to-wealth industrial facility in Lagos State.

“You are promoting democratic governance and the solutions it can bring in dealing with problems of development. I saw how you went through democratic channels to remove an incumbent president in 2015 in partnership with President Buhari and how that has led to development in your country.

“I saw you take the courageous decision to deal with fuel subsidies and other reforms, and we are interested in what allowed you to take the decisions that many before you could not take. And you took those decisions early in your term. It shows rare determination. And your stand in ECOWAS, all of these point to your commitment in leadership,” the Prime Minister stated.

President Tinubu who is currently on a State Visit to the Netherlands on the invitation of the Prime Minister, in his remarks, assured that Nigeria is well-positioned to power the clean energy future of Europe and the world with its high-grade lithium deposits.

Ajuri Ngelale, Presidential Spokesman, in a statement said, President Tinubu assured his host that Nigeria offers immense opportunities across a pool of sectors and that his administration is deepening reforms to enhance the investment climate.

He also noted that Nigeria seeks robust, balanced, and mutually beneficial partnerships that will bring about value-addition in areas like solid minerals.

“Taking a holistic view of the world order, there is a tremendous opportunity between us across trade spheres but especially in solid minerals, where we have high-grade lithium deposits that we know can power the clean energy future of the world. There is excellent value-additive opportunity in Nigeria. The world knows us for oil. They will soon know us for greater innovative exploits in other areas.

“We have an extremely dynamic youth population in Nigeria. It is a young country. 70% of our people are under the age of 30, and when we are referring to 200 million plus citizens, it represents both a massive workforce and a massive market for Dutch and other international investors.

“If our young people know they can achieve a good future in Nigeria, they will stay home and build our nation to greatness. Lawful migration of trained Nigerian minds and hands will be a benefit to Europe, and irregular migration will no longer be a source of fear in Europe if we partner effectively.

“This is what we want and it is why we are adamant about providing student loans and new credit opportunities to not only enhance the skills of our people but also to ensure that they can access a higher quality of life within their legitimate incomes. We will transform our economy, and our young people will be the reason why,” the President stated.

President Tinubu asserted that Nigerians have tremendous confidence in themselves and that his confidence in the Nigerian people gave him the courage to take difficult decisions on their behalf, given his full awareness of the need to give Nigerians the long-term tools they need to succeed.

“I am a determined leader of my people. I have and will continue to take the difficult decisions that will benefit our people, even if there is short-term pain. We have gone through the worst of the storms. I am unafraid of the consequences once I know that my actions are in the best long-term interests of all Nigerians.

“The Nigerian naira is one of the world’s best performing currencies today. We took the necessary risk, and all resilient Nigerians kept faith with us. They will be rewarded, and the reward will only be greater as we partner effectively with you on new opportunities for development.

“As leaders, we must take decisions for the benefit of our nations, and we cannot shy away from that,” the President said

President Tinubu further expressed his firm commitment to develop the developmental partnership between the European Union (EU) and Nigeria, noting that symbiotic economic ties remain the best long-term path to sustainable and mutual prosperity rather than one-sided relationships in which bilateral trade is skewed too much in one direction.