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Flagging The Conscience Of Truth

Tinubu’s Economic Policies Garner International Interest as Former Minister Applauds Paris Summit Appearance

ByWeb Manager

Jun 24, 2023

Akinyemi Highlights Positive Implications of Tinubu’s Presence and Economic Policies

Former Minister of Foreign Affairs, Prof Bolaji Akinyemi, expressed his admiration for President Bola Tinubu’s attendance at the Paris Summit held in France during an interview on AriseTV.

President Tinubu, while addressing investors in Paris on Thursday, emphasized the continuity of ongoing reforms, including the removal of fuel subsidy and the unification of the exchange rate. These reforms aim to create a more competitive economy that attracts Foreign Direct Investment (FDI).

Speaking to the delegation of African Export-Import Bank (Afrexim) led by Prof. Benedict Oramah and the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, President Tinubu assured them of the Nigerian government’s commitment to stimulating the economy and supporting investments in sectors where Nigeria has a competitive advantage, particularly agriculture.

“We are ready for business, prepared to welcome investments,’’ he said, while receiving the President and Chairman of the Board of Directors of African Export-Import Bank (Afrexim), Prof. Benedict Oramah; and President of European Bank for Reconstruction and Development (EBRD), Odile Renaud–Basso, in separate meetings, on the sidelines of the Summit for New Global Financing Pact.

Tinubu also assured the delegation of Afreximbank Executives that the Federal Government will continue to stimulate the economy with policies that support investments in areas of Nigeria’s competitive advantage, particularly agriculture.

Prof Akinyemi, in his analysis, emphasized that organizations such as Afreximbank and the presence of President Tinubu at the summit highlight the keen interest and investment potential in Nigeria. He commended President Tinubu for showcasing the economic policies that would be implemented, noting that this demonstrated Nigeria’s renewed presence on the global stage.

The former Foreign Affairs Minister said, “There is no doubt that the World Bank and the IMF need to be restructured in order to reflect responses and issues facing the world economies.

“There is a need for a new school of thought. I am glad for the presence of Tinubu because this signals that Nigeria is back. All these organizations such as AfriExim show that they are interested and vested in Nigeria.

“He must have shown them the economic policies to be instituted; it was a good outing for Tinubu and for Africa, at large.”

Furthermore, Prof Akinyemi discussed the need for a restructuring of institutions like the World Bank and the International Monetary Fund (IMF) to align with the evolving challenges and demands of world economies. He expressed his belief that a new school of thought is necessary in shaping global economic responses.

The presence of President Tinubu and the positive response from international organizations like Afreximbank indicate a promising outlook for Nigeria and Africa as a whole, according to Prof Akinyemi. The former Foreign Affairs Minister lauded President Tinubu’s performance at the Paris Summit, highlighting the potential for Nigeria to attract investments based on the economic policies presented.

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