Tinubu Woos Foreign Investors As Envoys Present Letters of Credence

Hamilton Nwosa
Writer

Ad

Oil Prices Dip but Stay on Track to Extend Last Week’s Gains

Crude oil prices were set for another weekly rise after additional 25% tariffs on Indian exports to the United States kicked in on Wednesday, raising doubts about the supply of Russian crude. At the time of writing, Brent crude was trading at $68.17 per barrel, with West Texas Intermediate at $64.20 per barrel, both slightly down from Thursday’s close…

Tesla sales tumble 40% in Europe as BYD surges past rival

By Obinna Uballa Tesla’s grip on the European electric vehicle market continued to loosen in July, with sales plunging 40% year-on-year even as Chinese challenger BYD posted explosive growth, according to data from the European Automobile Manufacturers Association (ACEA) on Thursday. New car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according…

Tinubu Returns to Abuja, Says Foreign Engagements ‘ll Enhance Nigeria’s Economic Growth

By Abiola Olawale President Bola Ahmed Tinubu returned to Abuja on Thursday, August 28, 2025, following a state visit to Brazil and an earlier visit to Japan. Shortly after his return, Tinubu stated that his international engagements are focused on fostering economic growth, job creation, and long-term prosperity for Nigerians. In a statement shared on…

Ad

President Bola Tinubu has assured foreign investors of diligent and predictable fund repatriation and the streamlining of the tax system, while imploring ambassadors to prioritize the exploration of new frontiers of trade relations that will be mutually beneficial as they carry out their duties in the country.

The President received Letters of Credence from the Ambassador of Hungary, Lorand Endreffy; High Commissioner of Rwanda, Christophe Bazivamo, and Ambassador of Ukraine, Ivan Kholostenko, at the State House, on Friday.

Speaking when he received the High Commissioner of Rwanda, the President said the long-standing concerns over trapped funds are receiving attention and that the funds will be processed expeditiously for release.

“We are one family on the continent. We will continue to promote democracy and good governance. I will maintain an open-door policy, and the Minister of Foreign Affairs and the Chief of Staff are also available.

“For the avoidance of doubt, we are already working on the issues of double taxation, and it will be properly streamlined to favour business growth. Nigeria is home and a haven for investors,” the President affirmed.

The Rwandan High Commissioner said the government of Rwanda was prepared to enhance bi-lateral relations with Nigeria, with new visa policies and trade agreements.

At the ceremony, President Tinubu asked the Ambassador of Hungary to explore all opportunities of building partnership, especially in the areas of agriculture and food security, and how to leverage the experience of the country in technology.

“Thank you so much for taking care of our students who are in your country. We are a very big country, with huge potential to sustainably spur economic growth. We are ready to improve relations, especially in the areas of agriculture and food security,” the President said.

The Hungarian Ambassador lauded the President for his bold, courageous, and strategic decisions to reposition the Nigerian economy, listing some areas of collaboration to include education, agriculture, food security, security, and medical technology.

“My Prime Minister always says that our relations are based on mutual respect,’’ he said.

President Tinubu told the Ukrainian Ambassador that Nigeria will always work for global peace and harmony.

“We are with you in prayers. We will continue to support good governance and democracy,’’ the President stated.

Ad

X whatsapp