• Wednesday, July 17, 2024
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BusinessDay

Tinubu arrives Riyadh for special World Economic Forum meeting

President Bola Tinubu on Friday, arrived Riyadh, the capital of Saudi Arabia, to participate in the 2024 Special World Economic Forum (WEF) meeting.

The meeting is focusing the theme ” Global Collaboration, Growth, and Energy for Development.”

Tinubu’s arrival at Riyadh, marked the beginning of the second leg of his two-nation official visits, following his earlier engagements this week at the Hague, Netherlands.

BusinessDay gathered that about 1,000 leaders from across the business, government, and academia from more than 90 countries are expected to attend the high-profile forum in Riyadh.

The aim is to build on the success of last year’s inaugural Growth Summit held in Geneva, Switzerland.

The Riyadh meeting is also expected to address pressing global challenges across three core themes: revitalizing global collaboration, fostering inclusive growth, and catalyzing action on energy for development.

The event serves as a platform to bridge the growing North-South divide exacerbated by emerging economic policies, the energy transition, and geopolitical shocks.

While in Riyadh, Tinubu and his entourage will also engage in discussions furthering his “Renewed Hope Agenda” for Nigeria, according to Ngelale

President Tinubu had rounded up his official engagements at the Netherlands on Thursday, with an investment forum, where he stated that bilateral partnerships must be mutually beneficial, transformative, and must translate into real gains for ordinary citizens.

Speaking at the Nigeria-Netherlands Business and Investment Forum in The Hague, on Thursday, President Tinubu emphasized the pivotality of stronger ties between Nigeria and the Netherlands, saying both countries must explore more creative channels of collaboration, whether it is through partnerships, joint ventures, or strategic alliances in order to build bridges that connect markets and facilitate the flow of goods, services, ideas and peoples.

He said his administration is enhancing the business environment in Nigeria to make it very friendly through various reforms, adding that these measures include: “The cleaning up of our foreign exchange market to make it more transparent for seamless business transactions, removal of the fuel subsidy, and the readiness of the Central Bank of Nigeria to provide the necessary window to allow foreign companies repatriate their profits, among others.”

He noted that improved business milieu in Nigeria is making the country an investor’s paradise, urging businessmen and women to take advantage of these opportunities for mutually rewarding economic partnerships between Nigeria and the Netherlands.

“I am delighted and honoured to be at this occasion of the Nigeria-Netherlands Business Forum. This is a platform that symbolizes the potential for collaboration and partnership between our two nations.

“It is worthy to note that while this forum seeks to highlight and advance the potential of mutually beneficial partnerships, I wish to state here that we must also ensure that the partnerships are creative and transformative in such a manner that the ordinary citizens of our countries can reap verifiable gains.

“It is on record that Nigeria and the Netherlands have established business ties for decades. There is every need to re-invigorate this relationship. This is a call for creativity on the part of all of us,” the President said.

Noting the long history of diplomatic relations between Nigeria and the Netherlands, President Tinubu called for the forging of even stronger bonds, not just in diplomacy but in commerce, innovation, and enterprise.

“Our countries possess unique strengths and resources. It is through collaboration that we can harness these strengths, unlock new opportunities, and drive economic development.

“Together, we have the potential to create synergies that will benefit our present and future generations. We must endeavour to replicate the success stories of various Dutch companies and enterprises by learning and sharing their experiences and approaches for the benefit of all.

“As the world braces up for today’s economic challenges, which in many ways affect our two countries, a creative approach to the search for investment-minded solutions will prove to be the most viable path to the level of sustainable development that we all desire.

“In line with the above vision, I believe that we must endeavour to push this narrative into our daily business activities and to move toward industrial value addition, agribusiness, innovative technology, green energy, marine economic expansion, as well as solid mineral exploitation and processing,” the President said.

Tinubu emphasized that relations between Nigeria and the Netherlands will henceforth set a new tone and foundation for stronger economic ties between both countries.

“As we engage in discussions and negotiations today, let us do so with a spirit of openness, trust, and mutual respect. Let us listen to one another, learn from each other, and find common ground that will allow us to move forward together in pursuit of our shared prosperity,” the President concluded.