President Bola Tinubu has emphasized that Africa is a prime destination for investment, urging international development financiers to view the continent as a hub for growth and prosperity. He made this statement on Thursday while hosting a delegation from the International Finance Corporation (IFC), a World Bank Group member, at the Presidential Villa in Abuja.
Tinubu stressed the need for a shift in perception towards Africa, particularly by the IFC and the World Bank. He expressed optimism about the leadership of Makhtar Diop, an African at the helm of IFC, who he believes understands the continent’s potential for growth, peace, stability, and prosperity. “Africa should be seen as a continent capable of aiding global development, not as one plagued by instability and leadership challenges,” Tinubu stated.
He called for a reimagining of Africa’s role on the world stage, advocating for the continent to be viewed as an opportunity rather than a threat. “With the right perspective, we can drive growth and inclusiveness. Africa is open for business, ready to change the narrative and collaborate with the global community for mutual prosperity,” Tinubu affirmed.
In a statement by presidential aide Ajuri Ngelale, Tinubu discussed past efforts to develop infrastructure, including dam construction and irrigation, highlighting the need for better funding of rural roads to improve transportation of crops to markets. He referenced projects like the coastal road and the Sokoto-Badagry Highway as critical to addressing these issues.
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IFC Managing Director Makhtar Diop shared insights from his visit to Nigeria, mentioning productive discussions with local partners aimed at enhancing agriculture through irrigation, improving transport networks, and fostering regional integration. “We are supporting small and medium enterprises in agriculture, which are making significant strides. It is essential to involve larger players in the country’s food production,” Diop said.
Diop also congratulated President Tinubu on his one year in office, praising his bold initiatives to rejuvenate Africa’s largest economy. “We are here to support you amidst the global shocks and challenges affecting many African economies,” he added.
This visit underscores the potential for collaborative efforts to transform Africa into a beacon of economic growth and stability, reinforcing the continent’s readiness to engage with the global economy.
