US APPLAUDS NIGERIA'S REMOVAL OF PETROLEUM SUBSIDIES AND UNIFICATION OF FINANCE MARKET

President Bola Ahmed Tinubu's economic policies have been praised by the US, which calls for daring reforms.

In particular, the United States congratulated President Tinubu on his efforts to eliminate the fuel subsidy program and unify FX.

Following a bilateral meeting with President Tinubu at Abuja, U.S. Secretary of State Anthony Blinken announced the country's stance on President Tinubu's government during a joint press conference with Nigeria's Minister of Foreign Affairs, Yusuf Tuggar.

The US Secretary said the need for Nigeria to remove obstacles that prevent foreign investors from conducting business easily, particularly with regard to capital repatriation and corruption.

According to Blinken, Nigeria has been in its efforts to realign itself, and this has improved the nation's prospects with American business.

We applaud the President's audacious initiatives to abolish gasoline subsidies and unify the currency. Nigeria opportunities, but long-term obstacles still need to be overcome in order to facilitate capital repatriation for international businesses.

I believe that some obstacles still exist that prevent us from taking full advantage of those, from our own business community. The first is capital repatriation. Companies looking to ensure that they will be doing so on a level playing field, and corruption is obviously a major barrier to that. I am aware that the governor of the central bank is working on that. The second is the continuous effort to eradicate corruption.

“Look, after all of that, I do believe we're seeing real improvement,” he remarked.

Sincere Collaboration

As part of his four-nation visit of Africa, Blinken landed in Nigeria and emphasized his nation's resolve partnerships with other African nations in order to address common concerns.

The Secretary stated that a number of shared priorities, for the bilateral conversations with President Tinubu. This is a location that I have visited.

American businesses and entrepreneurs collaborate and make investments in Nigeria's economy, especially in the technology sector.

“We have tech behemoths working with Nigerian partners to support me with president's news.” One million digital Jobs Initiative: In order to increase internet access, other businesses are working on installing underwater cables. Nigeria's upcoming startups are being nurtured at our tech incubators.

As focused on financing, we would like to collaborate to support Nigeria's technological revolution, which is generating employment.

“Because one of the things we've learned from these collaborations is that we gain from business in which we invest.” We're getting a lot and learning a lot from one other. Digital transformation with Africa Initiative, one of the projects that President Biden outlined, to be especially motivating and stimulating.

Nigeria now presents investors with. Concurrently, It's no secret, I believe, that there are still some long-term obstacles to be solved in order to combat corruption, and facilitate international businesses. All of them will attract transformative direct investment and a transformative approach in terms of repatriating money, he said.

Blinken remarked, “Nigeria is essential to that effort as Africa's largest country, largest economy, and largest democracy,” pointing out the collaboration between the US and Nigeria. And already, we have a lot of work done in tandem.

to move in a constructive manner. We're in charge of climate action.

We are promoting permanent representation and developing voices for the council so that they represent the reality of today, not merely the day they were established, many, many years ago, as partners in the global nothing coalition.

Together with 30 other Atlantic nations, we are collaborating to assist application of artificial intelligence. Through learning cooperation, we're advancing blue economic development, environmental conservation, and scientific and technology exchange, he stated.