Ajirioghene Imah
President Bola Tinubu has welcomed an investment of $520 million in specialised agro-processing zones by the African Development Bank (AfDB).
Tinubu, while praising the leader of the multilateral institution, Dr Adewunmi Adesina, for further opening up the economy for investments that will provide job opportunities and reduction in poverty, said the agro-industrial project strengthens an area of the country’s competitive advantage as he listed other areas of priority that require Foreign Direct Investment (FDI).
The President urged the Bank to inject funds into projects that target women and youth empowerment.
He further assured Dr Adesina that the Federal Government would provide all the necessary assistance to ensure sustenance of the projects, adding that electricity remained a priority area that needed urgent attention.
In the same vein, the AfDB President thanked Tinubu for the bold initiatives that had repositioned Nigerian economy in three weeks and stimulated appetite of investors from different parts of the world; removal of fuel subsidy and harmonisation of exchange rates.
“I commend the President’s foresight, boldness and determination for macroeconomic policy direction by removing the fuel subsidy,’’ he said, “No bird can fly with its wings tied behind. All those steps are signals investors like.’’ he said.
Dr Adesina said the bank would support the economic policies of the new administration in Nigeria, that had placed the people first in development targets.
