Abuja, Nigeria – President Bola Tinubu has reassured the manufacturing and service sectors of upcoming reforms aimed at improving efficiency and attracting investments. He emphasized that the ongoing economic revolution will be intentionally directed to empower and benefit the country’s youth population. The President’s statements were conveyed by his Special Adviser on Special Duties, Communications, and Strategy, Dele Alake.
During a meeting with a delegation from MTN, led by Group Chairman Mcebisi Jonas at the State House, President Tinubu emphasized the need to revolutionize the economy to ensure that the nation’s youth can actively participate in and benefit from the country’s prosperity.
The President expressed his commitment to address any problems or obstacles hindering investments in the economy, acknowledging the transformative changes taking place worldwide, largely driven by technology.
President Tinubu stressed the importance of digital technology in controlling the growing rural-urban migration and improving healthcare systems and education for the underprivileged segments of society.
He commended MTN for their shift from Corporate Social Responsibility to a more technology-driven approach, emphasizing the potential for strategic partnerships to contribute significantly to the economy. The President highlighted the importance of collaboration and structural adjustments to ensure the well-being of the Nigerian people and the nation’s progress.
The MTN Group Chairman, Mcebisi Jonas, revealed the company’s plan to invest $3.5 billion in the Nigerian economy over the next five years. He further expressed the company’s vision of becoming a pan-African enterprise by redirecting investments from the Middle East towards Africa, particularly Nigeria, where they receive the highest return on investment.
Jonas congratulated President Tinubu on the increasing interest in Nigeria since assuming office and pledged to mobilize other investors, potentially bringing an additional $1.5 trillion to Nigeria. He praised the President for the prompt and decisive interest in structural reforms and affirmed MTN’s commitment to supporting business and inclusive development in Nigeria.
The meeting also included the Group President/CEO of MTN, Ralph Mupita, Chairman of MTN Nigeria, Ernest Ndukwe, and Chief Executive Officer, Olutokun Karl Toriola.
President Tinubu’s assurances of forthcoming reforms and focus on empowering Nigerian youth align with his vision of an inclusive and prosperous economy. The collaboration with MTN, a leading telecommunications company, signals a promising partnership that aims to leverage technology for the nation’s development.
As the economic landscape continues to evolve, the President’s commitment to reforms and engagement with stakeholders reflects a strong resolve to steer Nigeria toward a future that caters to the needs of its people. The positive response from MTN and their investment plans further demonstrate the growing confidence in Nigeria’s business environment and the potential for sustained economic growth.
