President Tinubu Assures Foreign Investors Of Favourable Tax Regime

By Ayodele Oni

President Bola Tinubu as part of moves to attract foreign investors has assured them of diligent and predictable fund repatriation, and the streamlining of the tax system.

The President implored 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.

Presidential spokesman Ajuri Ngalele stated that Tinubu gave the assurance when he 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 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 Hungarian Ambassador commended 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,.”

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.”