Tinubu Rings NASDAQ Closing Bell in New York
President Bola Tinubu on Wednesday rang the closing bell at the NASDAQ stock exchange in New York, making him the first African leader to do so at the second largest stock exchange market in the world.
The event was seen as a symbolic gesture of Nigeria’s commitment to economic growth and development. Tinubu was surrounded by Nigerian business leaders and officials of the Nigerian Stock Exchange.
“It’s a great honour for me to be here,” Tinubu said. “I am happy to bring Nigeria to your doorsteps and I am honoured that we are here today with a bubbling Nigerian stock market that will evolve in the West African sub-region. The greatest economy in Africa is Nigeria, there is an immense opportunity in Nigeria where you can invest your money without fear.”
President Assures Prospective Investors of Opportunities in Nigeria
At the Nigeria-U.S. Executive Business Roundtable held just after the closing bell, Tinubu assured prospective investors that Nigeria is an attractive investment destination.
“Nigeria is an opportunity that is impossible to replicate or find elsewhere in any part of the world,” Tinubu said. “We have brilliant young people who both innovate and consume at a large scale. Our entrepreneurial spirit is a major part of what makes our market totally unique, aside from demography. Nigerians build businesses and Nigerian businesses partner with other businesses to conduct larger business. There is enough value to spread around.”
Tinubu also pointed out that the government is working to address longstanding problems and impediments to investment, such as the foreign exchange rate market.
“We continue to address longstanding problems and impediments, such as our work to restore and unify the foreign exchange rate market to a stable and trustworthy level, allowing new investors to seamlessly bring their money into the country, free of worries about whether or not they can take their money out at any point in time,” Tinubu said.
U.S. Deputy Treasury Secretary Encourages American Businesses to Invest in Nigeria
U.S. Deputy Treasury Secretary, Wale Adeyemo, encouraged American businesses to invest in Nigeria.
“In Lagos, I saw first hand some of the major reforms you implemented as the Governor of Lagos and the transformative effect it has had on Nigeria’s commercial capital,” Adeyemo said. “People have attested to the fact that the reforms you have put in place as President are quickly enhancing confidence. American business is paying attention to that and from what we have seen for ourselves, Nigeria is proving to be a new frontier for investment. We will encourage our companies from our end as those reforms continue to deepen.”
President Tinubu’s visit to the United States and his ringing of the closing bell at Nasdaq are important signs of Nigeria’s commitment to economic growth and development. The government is working to address longstanding problems and impediments to investment, and is encouraging foreign businesses to invest in Nigeria.