My economic reforms will improve ease of doing business – Tinubu

Nigeria’s President Bola Tinubu assured investors that his reforms will remove impediments to conducive business operations in Nigeria.

Tinubu disclosed this in a meeting on Wednesday when he received Mr Ade Adeola, Managing Director of Energy and Natural Resources in Europe, Africa and the Middle East for Standard Chartered Bank.

He added his reforms would improve efficiency in business start-up and administration including tax reviews and improved security.

Attracting investments

President Tinubu noted his administration is working towards attracting investments, he said:

“We are committed to strengthening partnerships, encouraging efficiency and creating a suitable environment for investors.

“We are already working hard on security. We will improve efficiency across the board for good input and output and we will build a very friendly environment for growth and investments,’’ he said.

He also added that tax reforms were being undertaken with close adherence to global best practices that would favour businesses for the collective prosperity of the nation, citing that Nigeria is open for business.

“We believe in partnership, and we will work with all those interested in the progress of Nigeria,’’ the president said.

Adeola said Standard Chartered Bank is committed to enabling investments in Nigeria with a special focus on energy and natural resources and a huge portfolio in funding for the oil and gas industry, he also noted that the bank supports investments of about two to three billion US dollars annually, adding:

“We are very excited about your leadership and we want to restate our commitment to the growth of Nigeria,’’.

New economic Ministers

President Bola Ahmed Tinubu yesterday appointed the former Commissioner of Finance in Lagos State, Wale Edun, as the Minister of Finance and Coordinating Minister of the Economy.

Edun, who was a Presidential Adviser on Monetary Policies, was part of the first batch of the 28-man ministerial list that was sent to the Senate by President Bola Tinubu.

Wale Edun’s background

Wale Edun has career experience that spans merchant banking, corporate finance, economics and international finance at national and international levels. He is an economist, with both first and Master’s Degrees in Economics, from the University of London and the University of Sussex, England.

Edun worked at Chase Merchant Bank as the Head of Treasury and then as Deputy Head of Corporate Finance. These positions put him in charge of the bank’s Treasury and Money Market activities.

He was responsible for the Capital Market and Financial Advisory operations and had to represent several local subsidiaries and affiliates of major multinational companies.