Nigeria has promised South African investors a safe and secure economic environment. President Bola Ahmed Tinubu made this pledge during the Nigeria-South Africa Business Roundtable in Cape Town.
South African President Cyril Ramaphosa announced that the Joint Ministerial Advisory Council on Industry, Trade, and Investment is now fully active. This council aims to improve trade and investment cooperation between the two countries. According to Tinubu’s Special Advisor, Bayo Onanuga, the council will also help solve trade problems and create a business-friendly environment.
President Tinubu assured investors that Nigeria is ready for business. He promised security, stability, and respect for the law to help businesses grow. He also emphasized Nigeria’s commitment to working closely with South Africa through the Bi-National Commission. “South Africa and Nigeria are like twins bound together for survival and prosperity,” Tinubu said.
Tinubu highlighted Nigeria’s economic reforms, which he said are already showing results. “These reforms are gaining traction. Nigeria offers the best investment opportunities with great returns,” he added.
President Ramaphosa recalled the creation of the Joint Ministerial Advisory Council during his 2021 visit to Nigeria. He explained that the council focuses on solving trade challenges and promoting business growth. “Today, we agreed to fully activate the council to improve trade and investment between our countries,” he said.
Ramaphosa also stressed the need to diversify trade to reduce reliance on oil and gas. He praised the contributions of Nigerian businesses in South Africa and South African businesses in Nigeria. “Although challenges still exist, we must work together to grow investments and create a balanced partnership,” he concluded.
CREDIT:Allneeds, THE NATION
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