Reforms in Nigeria will improve Africa’s economic prospects – Tinubu

President Bola Tinubu has declared that the ongoing economic reforms in Nigeria would improve Africa’s economic prospects, insisting that there will be no looking back.

The President, who spoke at the State Dinner organised by the French Government for President Tinubu at Palais des Elysée in Paris on Thursday night, lauded the relations with French President Emmanuel Macron, stating that the cordiality and interest of the French leader in Africa would foster stronger bilateral ties, benefiting the entire continent.

The Nigerian leader encouraged citizens of both countries to uphold the cordial relationship shared by their nations.

First Lady Senator Oluremi Tinubu accompanied the President to the dinner, along with Nigerian government officials, businessmen, and the Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala.

The President said: “It is a great honour for me to be here. And it’s been a great day because you have arranged a great reception.

“Appreciating that you have a good knowledge of Nigeria is not enough. Your warmth, your commitment, and your foresight in Africa are remarkable.

“You stirred my excitement and caught my attention as a leader. Thank you.

“France went through a lot to put freedom, democracy and commitment together. Your effort is very inspiring for us to work together. We have no choice but to build a continent that connects, resonates for its people, and cares about the people and development,” President Tinubu said.

He commended the French leader and his wife, Brigitte, for the State Visit and the three-day reception.

“In addition to the economic prospects and what you mean to Europe, to America and the African continent, there is a good prospect that you will not forget who we are. You open your doors for investment for our friends and brothers here. I could see Aliko Dangote, Aig Imoukhuede, and Tony Elumelu here. You have memories of your friends in Nigeria.  You asked for Mike Adenuga earlier today. Thank you,” he added.

President Tinubu noted that the future remained bright for better relations with France.
“It is a good time for all of us. I cannot be prouder than I am to be President of Nigeria at this challenging time. I have people who are very clearly inspired, who are determined to change the course of Africa by changing the rot of the past, blending a future that our children and grandchildren can hold, and be open, and be proud,” the President said.

On the tough economic reforms embarked on by his administration, Tinubu said: “Regarding Nigeria’s economy, as you have said, we have embarked on a very strong reform, and there is no looking back. It is in the interest of the entire continent that we don’t continue in the past. We must brace up for the future with commitment and optimism. And with the courage of our founding fathers.

“President Macron, all your efforts about Africa, I promise you shall not be in vain.”

In his remarks, President Macron acknowledged Nigeria’s leadership in Africa, recognising its role as a ‘big brother’ to the continent.

He praised Nigerians for their resilience and intellect, mentioning Nobel laureate, Prof. Wole Soyinka, and musician Femi Kuti as global figures.

“Nigeria is a formidable country with talented young people. Many Nigerians are exceptional in their chosen careers.

“You conquered military rule and took your liberty. President Tinubu transformed the economy in Lagos, and now you are on a mission to transform the country,” he added.

Macron noted that French investors have long been active in Nigeria, particularly in oil, gas, construction, and food security.

He also highlighted opportunities in solid minerals, emerging technologies, and the film industry.
“Nigeria and France will continue to lead together, forging a path forward,” President Macron said.

Meanwhile, President Tinubu and President Macron on Thursday signed two agreements in Paris, France, that will ensure a partnership on the development of critical infrastructure and the long-term sustenance of agriculture and food security.

Earlier, Tinubu and Macron witnessed the signing of the agreement by the United Bank for Africa (UBA) Group Chairman, Tony Elumelu, and the French Minister of Economy, Finance and Industry, Mr. Antoine Armand, for the bank to commence operations in Paris.

Zenith Bank also inaugurated its services in the country during the visit.

The partnership agreements were signed at an economic forum attended by businessmen, captains of industry, governors, and some top government officials of both countries at the Palais des Elysée in Paris, France, during President Tinubu’s state visit.

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and Mr. Armand signed the Letter of Intent.

Edun and the Chief Executive Officer of the French Development Agency (AFD), Mr. Remi Rioux, signed another Letter of Intent to support the Renewed Hope Agenda reforms designed to stimulate and strengthen the economy.