President Bola Tinubu has reaffirmed his administration’s commitment to adopting successful global economic models, including those from India, to drive Nigeria’s development.
Speaking during an interaction with an Airtel delegation led by Chairman Sunil Bharti Mittal at the State House, Abuja, he emphasized that his government is open to learning from other nations to enhance Nigeria’s business environment.
According to a statement endorsed by his Special Adviser on Information and Strategy Bayo Onanuga, the President acknowledged Airtel’s role in fostering closer ties between Nigeria and India and expressed gratitude for the company’s confidence in the Nigerian economy.
Tinubu noted that discussions with Indian Prime Minister Narendra Modi during his visit to Nigeria had further strengthened economic collaboration between the two nations.
The president assured the delegation of his administration’s commitment to creating a business-friendly environment, stressing that Nigeria’s economic growth depends on embracing revolutionary ideas that facilitate investment and innovation.
He reiterated his pro-business stance, affirming that his government will continue to support policies that encourage economic expansion and technological advancement.
“I am grateful for your openness, readiness, and confidence, which moved us very close to the Prime Minister of India. When he was here, we discussed things at length.
“The entire ecosystem will be further examined, and if there is anything we can copy from India, we are ready to do so. We are prepared to learn. We are not ashamed of copying what is working in other climes.
“It is for the good of all of us, and Nigeria is so critically important that we must give attention to those revolutionary intentions that can make business work. I am pro-business, and I will continue to be that. I can give you that assurance,” he said.
The president noted that the tax reforms will create a more favourable climate for investors.
“We will find a way to work with tax administrators to ensure that whatever we have to do, we will encourage growth and opportunities. We are ready to do that,” Tinubu said.
The Minister of Communication, Innovation, and Digital Economy, Bosun Tijani, thanked the President for consistently supporting the telecom sector’s growth.
Tijani said the approval by Tinubufor the protection of fibre optic and undersea cables as critical national assets would further stimulate growth in the industry, assuring that the Office of the National Security Adviser (NSA) has started implementing and enforcing the law.
Mittal commended the president for the two-pronged economic reforms that had transformed the economy for future growth.
“When you took office, you made some promises. Given the country’s situation, I was unsure how deep and far you could take your commitments.
“I am indeed reminded of 1991, when India was in a similar situation, and we were practically on our knees, having pledged 500,000 tons of gold to the Bank of England, and our vessel in Tokyo had been put up for sale.
“During that time, the Prime Minister and his team took similar reforms to what you are taking now in Nigeria, and India has never seen better times after that.
“The duties went down, the rupee was floated, and it depreciated significantly. Relicensing happened, and it was the dawn of a new world in India. We just moved forward,” he said.
Mittal said the reforms turned India into one of the largest economies in the world.
“I feel that what you have done here is unprecedented in a challenging time. Only people of resolve and steel can endure this huge pressure, floating the naira, which moved from N450 to about N1900 and is now coming back to N1400 to N1500.
“It has been a remarkable achievement celebrated by the entire world. This was much required, and you delivered on your promises,” the Airtel Chairman said.
He also commended the removal of the petrol subsidy.
“The second one was the removal of subsidy, which was a very tough decision for any politician. It was unpopular and difficult, but you held your position, knowing fully that not doing it would not help the country.
“You have taken a long-term position. It is my belief and hope that you have created a legacy for yourself. Your first term as President will mark a watershed in the development of your country.
“This will be a turning point, and I would like to commend you for having held a firm position and taken the country forward,” he added.
Mittal said more Nigerians should be encouraged to invest in the country, particularly those with huge financial portfolios abroad.
“I have been speaking to people in Nigeria, friends and business people, and they are all now feeling calm, and when they start to get back, they will move very fast. I have experienced this in India,” he stated.
