The President of Nigeria, Bola Tinubu, has signed an investment agreement with Qatari investors to leverage the potential of mutual corporations in key sectors of education, enterprise development, tourism, mining, sports, and investment promotion in Nigeria.
The signing ceremony was witnessed by the Emir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani, and Tinubu ensured that Nigeria is ready to welcome investors, acknowledging that ongoing reform will bring innovation, a return on investment, and multiculturalism to Doha on Sunday.
Tinubu said, “Our greatest strength is our people. Our strength lies in the capacity of Nigerian youths. They have energy, talent, and self-belief. They are quality partners for the Qatari industry.
“They are educated and reliable, and they are proactively seeking to add value wherever they are. A few cannot give a bad name to the many. Nigerian youths are ready to be unleashed for the mutual benefit of both nations.
“We have seen clearly the rapid pace and thorough quality of Qatar’s development process. It is impossible not to be moved by what you have accomplished. The leadership in the country has proven its mettle, and we are here to gain deeper insight.
“There is nowhere in the world where you will find a return on investment at the level of what you will see in Nigeria. A massive market of over 200 million skilled Nigerians is always industrious and ready to work.
“We face some short-term turbulence at the moment, but we have a government today that reflects the dynamism and talent of the Nigerian people. We are implementing the right solutions. This team works collaboratively with each other and our partners. Nigeria is ready for serious business.“
Emphasising Qatar’s receptiveness to President Tinubu’s investment initiatives, Emir Sheikh Tamim bin Hamad Al Thani recalled his visit to Nigeria in 2019, highlighting his conviction that Nigeria holds significant importance as a strategic ally both independently and within the broader regional landscape.
The Emir notes, “I have no doubt about the great capacity of the Nigerian people. Everywhere in the world, they are known for their brilliance and hard work. We only need to ensure that this is happening inside Nigeria rather than outside.
“The investments we have made around the world have been very fruitful. This is because we take our time and study opportunities before we invest in the common wealth of our people. It is not my money. The money we invest belongs to the future generations of Qatar.
“Mr. President, I am very encouraged by your actions and your passion for creating new opportunities. We are very open to this, and follow-up is everything at this point.
“The will is there for both of us, but we must follow up. I will send a team of officials to Nigeria after Ramadan, and we will advance discussions on what some of the actionable investment opportunities are.”
In a post shared by the Office of the SA on Social Media to the President on X handle, it was noted that the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, acknowledged that Tinubu appointed the Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, as the team leader of the government team that will interface with Qatari authorities in investment identification and implementation moving forward.
However, during the bilateral deliberations, President Tinubu facilitated a brief presentation to the Emir by the Minister of Solid Minerals Development, Mr. Dele Alake.
Mr. Alake provided an in-depth discussion regarding the abundance of high-grade minerals, such as lithium, readily available throughout the country. He particularly emphasised the forthcoming opportunities for domestic mineral processing and the growth of value-added industries within the sector.
Following the bilateral engagement, the two heads of state convened for a closed-door meeting before proceeding to a signing ceremony for seven bilateral agreements spanning multiple sectors.
The seven agreements signed include: a cooperation agreement in the field of education; a regulation of the employment of workers with the Government of Qatar; the establishment of a joint business council (JBC) between the Qatar Chamber of Commerce and Industry and the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA); and a cooperation agreement in the field of youth and sports.
The other agreements are: cooperation in the field of tourism and business events, and a memorandum of understanding combating illicit trade in narcotic drugs and psychotropic substances.
The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, signed the documents on behalf of Nigeria, while representatives from the Government of the State of Qatar, including Buthaina bint Ali Al Jabr Al Nuaimi, Minister of Education and Higher Education; Dr. Ahmad Hassen Al-Hammadi, Secretary General at the Ministry of Foreign Affairs; Sheikh Khalifa Bin Jassim Al Thani, Chairman of the Qatar Chamber of Commerce and Industry (QCCI); and Abdullah bin Khalaf bin Hattab Al Kaabi, Undersecretary of the Ministry of Interior (MOI), also participated in the signing ceremony.
Related Posts
- Tinubu Seeks Qatar Investment to Boost Economy
- Don’t Give Kickback To My Appointees – Tinubu Charges International Business Community
- Tinubu Expresses Condolences Over the Passing of Mr. Ibu, Sisi Quadri
Present at the ceremony from the Nigerian delegation were Mr. Wale Edun, the Coordinating Minister of the Economy and Minister of Finance; Dr. Dele Alake, the Minister of Solid Minerals Development; Professor Muhammad Ali Pate, the Coordinating Minister of Health and Social Welfare; Dr. Doris Uzoka-Anite, the Minister of Trade, Industry, and Investment; and Mr. Ekperipe Ekpo, the Minister of State for Petroleum Resources (Gas).
Additionally, in attendance were Mallam Nuhu Ribadu, the National Security Adviser, and Mrs. Olu Verheijen, the Special Adviser on Energy.
