‘We’ll improve business environment’ — Tinubu assures investors

President Bola Tinubu says his administration will provide a better environment for investments to thrive.

Tinubu spoke on Monday during a meeting with Sunil Bharti Mittal, chairman of Bharti Airtel Worldwide at the Aso Rock Villa. 

In a statement signed by Deleke Alake, Tinubu’s aide on special duties, communication and strategy, the president said the government is looking forward to the expansion of Airtel’s 5G network in the country.

“I have a connection with Airtel. We brought Econet to Nigeria when I was governor of Lagos state. I was a main promoter then because we needed to liberalise the telecom industry. The economy of Asia headed by India is very phenomenal because of reforms. We are ready to copy India,” the president was quoted as saying. 

“Digital economy is very crucial. We are not ashamed to copy any model that works. I congratulate Airtel for the growth of your business in Nigeria. We are looking forward to the growth and expansion of your 5G network in Nigeria. Airtel should continue to promote Nigeria. 

“I assure you that your investment is very safe and will continue to grow. We are working to improve the business environment for all investors.”

While speaking, the Airtel chairman hailed the decision of the president to eliminate multiple foreign exchange (FX) rates.

Mittal said the longstanding issue has been a challenge for foreign investors, adding that the decision would now unleash foreign investments in the country.

“I came here to make a request, but I have to say thank you first. We are grateful for what you have done with the removal of fuel subsidy and fixing the foreign exchange,” he said.

“This will open a floodgate of foreign investments. You have taken these bold steps. It is important to stand firm. Airtel is a robust telecom company and we are ready to serve Nigeria.”