• Saturday, July 20, 2024
businessday logo


Netherlands to invest $250m in Nigeria’s economy

Netherlands to invest $250m Nigeria’s economy

…as Tinubu says will make more difficult decisions

Prime Minister Mark Rutte of the Netherlands says his 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.

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

The prime minister, who acknowledged President Tinubu’s economic reforms, said: “You are promoting democratic governance and the solutions it can bring in dealing with problems of development.

Read also: US investors targeting Southern Kaduna for $6m agric investment – Katung

“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 to leadership,” the prime minister said.

President Tinubu, who is currently on a state visit to the Netherlands on the invitation of the prime minister, said that Nigeria was well-positioned to power the clean energy future of Europe and the world with its high-grade lithium deposits.

In a statement, Ajuri Ngelale, presidential spokesman, said that Tinubu told his host that Nigeria offers opportunities across sectors and that his administration was deepening reforms to enhance the investment climate.

“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 an excellent value-additive opportunity in Nigeria. The world knows us for oil. They will soon know us for greater innovative exploits in other areas.

Tinubu told his host that Nigeria has a dynamic youth population, with 70 percent of the people under 30 years of age.

“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 ensure 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.

Read also: 5 countries that give citizenship by investment within 6 months

Tinubu said Nigerians have tremendous confidence in themselves and that his confidence in the Nigerian people gave him the courage to make 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 make 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 president said.