ABUJA — President Bola Tinubu has reaffirmed his administration’s commitment to adopting successful global strategies to drive economic growth and development. Addressing a delegation from Airtel, led by its Chairman, Sunil Bharti Mittal, at the Presidential Villa in Abuja, the President emphasized that Nigeria is ready to learn and implement proven solutions from other nations to improve various sectors, particularly telecommunications.
Tinubu underscored the importance of strengthening Nigeria’s telecom regulatory framework to align with international standards, ensuring greater infrastructure protection and a more conducive business environment. He acknowledged Airtel’s contributions to the Nigerian economy and expressed gratitude for the company’s ongoing investment and confidence in the country’s economic trajectory.
“I appreciate your openness and confidence, which have brought us closer to India’s Prime Minister. During his visit, we had extensive discussions about various economic models,” Tinubu stated. “We will examine the entire telecom ecosystem, and if there are strategies from India that have proven effective, we are ready to adopt them. We are not ashamed to learn from what works elsewhere because our priority is Nigeria’s development. Business success and economic progress are my core focus, and I will continue to champion initiatives that foster both.”
Commitment to Pro-Business Policies
The President reassured investors of his administration’s dedication to creating a more favorable tax regime, ensuring businesses can thrive without unnecessary fiscal constraints.
“We will work with tax administrators to establish policies that promote growth and opportunities,” he said. “Our goal is to encourage investment, not stifle it.”
Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, lauded the President for his unwavering support of the telecom sector. He highlighted Tinubu’s approval of policies that protect critical telecommunications infrastructure, including fiber optic and undersea cables, as a crucial step toward industry expansion. Tijani also confirmed that the National Security Adviser’s Office has commenced enforcement of these protections to safeguard vital assets.
Airtel Chairman Commends Economic Reforms
Airtel Chairman Sunil Bharti Mittal praised Tinubu’s bold economic policies, likening them to the transformative reforms undertaken in India in 1991. He recalled how India faced severe economic challenges but rebounded due to decisive government action.
“When you assumed office, you made significant commitments. Given Nigeria’s economic situation, I was unsure how far you could go in implementing them. However, I am reminded of India’s situation in 1991 when we faced similar economic difficulties. Through bold reforms, our economy rebounded, and today, India is one of the largest economies in the world,” Mittal remarked.
He highlighted Nigeria’s progress in stabilizing the naira after its initial depreciation, calling it a “remarkable achievement” that has gained global recognition.
“The currency’s movement from N450 to about N1900 and now stabilizing around N1400-N1500 is a testament to your administration’s determination. This has been a challenging but necessary transition, and your resolve has been commendable,” Mittal added.
A Legacy-Defining Presidency
Mittal also commended Tinubu’s decision to remove the long-standing fuel subsidy, recognizing it as a politically difficult yet essential move for Nigeria’s economic future.
“The removal of the fuel subsidy was an extremely tough decision for any leader. It was unpopular, but you stood firm, understanding that avoiding it would be detrimental in the long run. You have positioned Nigeria for sustainable growth, and history will remember your administration as a turning point for the nation’s economic development,” he concluded.
President Tinubu’s administration continues to push forward with critical economic and regulatory reforms, signaling a new era of business-friendly policies aimed at transforming Nigeria into a globally competitive economy.
