President Bola Ahmed Tinubu expressed his appreciation for the African Development Bank’s (AfDB) investment of $520 million in specialized agro-processing zones. He praised Dr. Akinwunmi Adesina, the leader of the multilateral institution, for promoting investments that create job opportunities and reduce poverty. Following the Summit on A New Global Financing Pact in Paris, France, President Tinubu welcomed Dr. Adesina and emphasized the importance of foreign direct investment (FDI) in various priority sectors, including women and youth empowerment.
President Tinubu commended the vision of Dr. Adesina in proposing the establishment of a Youth Entrepreneurship Bank in Nigeria. This bank would provide credit, skills training, and support to young Nigerians, empowering them to become successful entrepreneurs. The President assured the AfDB of the Federal Government’s commitment to supporting and sustaining the agro-industrial projects, with a particular emphasis on addressing the urgent need for improved electricity infrastructure.
In response, Dr. Adesina expressed his gratitude to President Tinubu for implementing bold initiatives that have revitalized the Nigerian economy in a short period. He highlighted the removal of fuel subsidies and the harmonization of exchange rates as measures that have garnered the interest of global investors. The AfDB President affirmed the bank’s commitment to supporting the economic policies of the new administration, emphasizing their focus on prioritizing the welfare of the Nigerian people.
During a separate meeting, President Tinubu met with executives from Airbus/ATR and pledged to streamline the aviation sector for enhanced efficiency, particularly in aircraft maintenance and training. Laurent Rahul Domergue, the Senior Vice President of Airbus/ATR, assured the President of the company’s readiness to invest in Nigeria’s aviation sector, particularly in the supply of planes.