…By Dorcas Funmi for TDPel Media. President Bola Ahmed Tinubu’s meeting with the President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, during the Paris Global Financial Impact Summit, has been revealed to the public.
The Nigerian President expressed his delight at the bank’s investment of $520 million in specialized agro-processing zones in Nigeria, which he believes will contribute to job creation, poverty reduction, and economic growth.
Priority Areas for Foreign Direct Investment (FDI)
Focus on Competitive Advantage and Youth Entrepreneurship:
During the discussion, President Tinubu praised the agro-industrial project as it strengthens Nigeria’s competitive advantage.
He also highlighted other areas of priority that require Foreign Direct Investment (FDI).
Tinubu commended Adesina’s vision for establishing a Youth Entrepreneurship Bank in Nigeria, which would provide credit, skills training, and support for young Nigerians.
He further emphasized the importance of injecting funds into projects targeting women and youth empowerment.
Assurances and Urgency of Sustaining Projects:
President Tinubu assured Adesina of the Federal Government’s commitment to providing necessary assistance to ensure the sustainability of the projects discussed.
He specifically emphasized the urgent need for attention to the electricity sector, considering it a priority area.
Adesina’s Acknowledgment of President Tinubu’s Initiatives:
Dr. Akinwunmi Adesina acknowledged the bold initiatives taken by President Tinubu, stating that they have already repositioned the Nigerian economy within a short period of three weeks.
Adesina specifically highlighted the removal of fuel subsidy and the harmonization of exchange rates as initiatives that have attracted investors from around the world.
AfDB’s Support for People-Centered Economic Policies
Bank’s Commitment to Supporting Nigeria’s Economic Policies:
Adesina assured President Tinubu of the African Development Bank’s support for the economic policies of the new administration in Nigeria, emphasizing the focus on people-centered development targets.
He commended President Tinubu for his foresight, boldness, and determination in implementing macroeconomic policy directions, including the removal of fuel subsidy.
Conclusion:
The meeting between President Bola Ahmed Tinubu and AfDB President Dr. Akinwunmi Adesina in France showcased discussions on important investment projects, economic policies, and areas of focus for Nigeria’s development.
The dialogue highlighted the positive impact of recent initiatives, expressed appreciation for the bank’s investment, and underscored the commitment to sustainable projects and support for the Nigerian economy.