It was another week spent in active public service to all Nigerians, home and abroad, by President Bola Tinubu, though most of that week was spent abroad. You will recall I announced his plans to attend the Saudi-Africa Summit in Riyadh, Saudi Arabia. Well, he was in Saudi Arabia most part of the week, exactly one week in the country that hosts the Holy City of Makkah, and transacted business on behalf of Nigeria and Nigerians, with God and men.
While in Saudi, the wheel of the state did not ground to a halt, I think to make this point, because he ensured to put people of intellect and intuition in charge, led by his trusted friend and lieutenant, Vice President Kashim Shettima, who was leading the charge back home, so the Jagaban was focused on the task that took him far away from home.
Almost immediately he was done with the general reason for the trip, being the Saudi-African Summit, the President jumped on the next train to the venues of other primary security and economic issues affecting Nigeria. The first was the Nigeria-Saudi Investment Roundtable, still in Riyadh.
At this roundtable, which was well attended by both Nigerian and Saudi public and private representatives, the President gave a passionate reassurance to the Saudis. Above everything, he told them of how his administration is removing impediments to smooth and profitable business climate in the country, through policy changes and realignments, and categorically told them “Nigeria is open for business”.
At this forum, besides an array of relevant government functionaries, there were dozens of chief executive officers from several Saudi conglomerates, specializing in construction, finance, new and traditional energy, healthcare, agriculture, electric power, mining, aviation, telecommunications, creative arts, and hospitality were present and made their exploratory pitches to President Tinubu on areas of tangible collaboration.
Then on Sunday, November 12, the Jagaban headed for the Holy City of Makkah, where he, along with his entourage, performed the lesser Hajj (Umrah). He expressed his excitement about seeking God’s face on Nigeria’s behalf, as President, while speaking to the Nigerian Television Authority’s (NTA) Musbau Dan-Wahab, saying he was in Makkah for the first time after his election as President, to thank God for answering his prayers and those of Nigerians, at the elections. He went on to pray for the country on the new path it is following.
“For Nigeria, may our prosperity grow, and may humanity be kind to each of us. The prospect of the country is yet to blossom to the level that we require. It needs hard work and consistent prayers and we’re giving it our mind and our spirit in every way possible. Our strength is in our diversity and we’ll continue to build on that for the prospect and the sake of the country”, he said.
Then on Tuesday, November 14, after he had rested from the work of faith at the Great Mosque, also known as Masjid al-Haram, President Tinubu went on, in Makkah, to meet the authorities at the Islamic Development Bank (IsDB), to advance negotiations on a multi-billion dollar infrastructure finance facility from the bank. This finance facility, according to a statement issued by the President’s spokesman, Ajuri Ngelale, will service the funding of a multi-sectoral portfolio of infrastructural projects at both the national and sub-national levels of the country.
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It was at this meeting that the leadership of the IsDB, led by the bank’s Vice President in charge of Country Programmes, Dr Mansur Muhtar, revealed that the banking world has been watching recent positive developments in Nigeria and has come to the conclusion that our country has come of age and is ready for business, a reason the bank believes Nigeria, as the largest market and economy on the African continent, will take a lion’s share of a new investment vote worth $50 billion by the Arab Coordination Group (ACG) for African countries.
“Mr. President, we know you inherited a very tough set of circumstances. It is to your credit that you have taken very bold steps without delay. We are ready to work with you. We are ready to support big investments in Nigeria. We agree that if Nigeria succeeds, Africa succeeds. And the world needs Africa to succeed.
“The Islamic Development Bank President announced the provision of $50 billion U.S. Dollars of new investment for the African continent from the Arab Coordination Group (ACG). This was announced at the Saudi-Arab-African Economic Summit. As the largest market and the largest economy in Africa, Nigeria will certainly receive a significant share. We look forward to supporting Nigeria’s economic transformation”, Muhtar said.
The Saudi outing has generally received acceptance and praises from various shades of opinions and interests globally, described as a major achievement of the Bola Tinubu administration that must be celebrated. At home, people from various backgrounds, especially those in the business, trade and investment world, who really understand what the President is doing very well, have been giving positive reviews of the events that transpired in Saudi.
A strong voice among Nigerian youths, who has vehemently followed and highlighted President Tinubu’s achievements on his X handle, Wale Adedayo, who also identifies himself as Pro-Nigerian, while commenting on Jagaban’s speech at the Nigeria-Saudi Investment Roundtable, described him as Nigeria’s Chief Marketer and added “if this man keeps selling Nigeria like this, he will do third term”.
Also reviewing the various engagements the President had in Saudi, Eguando Tone Jeff, a Public Affair Commentator, particularly highlighted how he was able to earn the trust of the Saudi and other Arabia businessmen in just one trip.
“Personally, I think his outing was successful, if you ask me. I was proudly watching him telling them and the world we are open for business, removing bottlenecks and restating the role he played as a Deloitte member of staff in building the Saudi State Oil giant, Aramco. That again gives confidence to the Saudis and most willing investors in the Arab world that this President is one who is business minded and can be trusted with their funds and investments. You noticed the ease the Saudis pledged to make investments in some critical areas of our economy? It’s because Jagaban is trusted”, Eguando said.
Builder Bolaji Olaye, an Abuja-based businessman and housing expert, while undertaking an evaluation of the President’s outing in Saudi Arabia, located how the President’s marketing to Saudi Arabia government and business world will positively tell on the Nigerian economy and his particular sector, directly. He expressed some eagerness to see the investment hunting bear fruits for him directly.
“Aside the announcement by the Saudi’s Crown Prince, HRH Mohammad bin Salman, that the Arab nation has pledged to invest in the revamp of Nigeria’s refineries, as well as provide financial support to sustain the government’s foreign exchange reforms, one part that excites me the most is the affirmation and assurances by Saudi Arabia’s Trade and Investment Minister, Kahlid El-Falih, that his nation is poised and their investment community willing and ready to invest across several sectors of the Nigerian economy. To further show their readiness, he hinted that he will be visiting Nigeria later this year in company of Saudi’s Minister of Commerce with a very large delegation of Saudi CEOs from all key sectors.
“In the industry of mass housing development and as a private developer myself, access to finance is a critical factor in the provision of affordable housing for masses of Nigerians and that at an affordable interest rate, would be immensely beneficial for both the developers and the would-be beneficiaries of such houses.
“With the announcement of a multi-billion dollar of new investments coming into Nigeria from the Islamic Development Bank for funding multi-sectoral portfolio of infrastructure projects across Nigeria, of which mass housing would be a major sector for investment, President Tinubu’s visit to Riyadh is indeed a positive development for the nation and I am seriously looking forward to this substantial new investments yielding positive fruits across several sectors of our nation’s economy”, he said.
Then on Thursday, Jagaban, who is also the Chairman of the ECOWAS Authority of Heads of State and Government, landed in Guinea-Bissau to honour President Umaro Sissoco Embalo’s invitation to the country’s 50th Independence Day Anniversary. His presence at the event was particularly significant for democracy, especially in Africa, considering the trend recently witnessed in West Africa. His message on his verified X handle aptly depicted his reason for attending: “Today, I joined President Umaro Sissoco Embaló of Guinea Bissau and other world leaders to commemorate the country’s 50th Independence in Bissau. Nigeria remains committed to supporting peace and democracy, not only in Guinea Bissau, but the rest of West Africa, and the world”.
He is starting this week in Germany, where he arrived yesterday to participate in the G20 Compact with Africa (CwA) Conference in Berlin. In Germany, he is expected to come back with more goods, for the benefit of all Nigerians.
A Note on Ribadu
You must definitely have also noted how strongly the National Security Adviser (NSA), Mallam Nuhu Ribadu, has been serving the nation, with merits, since he assumed office, the most recent of which was the way he brought the organized Labour’s nationwide strike to an end within hours. Many people might not have known that in the last few Government-Labour interactions on sorting out issues trailing fuel subsidy removal, NSA Ribadu has constantly been a stabilizing factor, who has managed to get Labour’s understanding. He did it during the week when Labour started a nationwide strike on Tuesday and Ribadu got them to end it Wednesday evening. This happened while the ‘Landlord’ was away in Saudi Arabia
He has been proving himself relevant and as a strategic asset to the nation. Ribadu has again proven the whispers about the President’s talent hunting skills. Baba always knows what people are good for and never misses on getting the best hands to work with. Let’s give it up for Ribadu, another skillful negotiator.