Help Nigerian Gas Compete Favourably, Tinubu Urges Bank Of America, Others

President Bola Ahmed Tinubu on Tuesday made a case for the Bank of America and other willing financing institutions to help Nigeria in various capacities, such as in partnering to ensure Nigerian gas competes favourably in the global market, as a viable source of alternative revenue.

The President, who received BOA officials in his office at the State House, said his government is committed to instituting reforms that engender the sustainable growth and development of the country, according to a statement by the Special Adviser on Special Duties, Communication and Strategy, Dele Alake.

He also expressed confidence that his administration was on the pathway to success in spite of the challenges facing the country, saying Nigeria has no reason to fail the rest of the African continent.

In his remarks, the leader of the delegation and President of International for Bank of America, Mr Bernard Mensah, expressed excitement about the initial steps taken by the new administration, which, he said, is taking Nigeria back to its rightful place on the global stage.

See the full statement below:

STATE HOUSE PRESS RELEASE

WE’RE ON THE RIGHT TRACK TO SUCCESS – PRESIDENT TINUBU

President Bola Ahmed Tinubu has expressed confidence that his administration is on the pathway to success in spite of the challenges facing the country, saying Nigeria has no reason to fail the rest of the African continent.

Receiving visiting Bank of America officials in his office at the State House on Tuesday, the President said his government was committed to instituting reforms that would engender the sustainable growth and development of the country.

“We believe we are on the right track so far. We believe we need all the help we can get,” the President said as he asked the bank’s management for support and partnership that would advance mutual benefits for Nigeria and the financial institution.

President Tinubu said governance and development challenges facing the country cannot be addressed without fiscal and institutional reforms.

“21st Century actions on climate change, finance and innovation are intertwined. Having a good platform and believing in innovation will help in undertaking reforms and tackling the issues.

“This is the largest economy and democracy in Africa and if we cannot do it, nobody will do it for us,” he said.

But affirming that no one can do it alone, President Tinubu made a case for the bank and other willing financing institutions to help the country, for instance in partnering to ensure Nigerian gas compete favourably in the global market, as a viable source of alternative revenue.

In his remarks, the leader of the delegation and President of International for Bank of America, Mr. Bernard Mensah, expressed excitement about the initial steps taken by the new administration, which, he said, is taking Nigeria back to its rightful place on the global stage.

He said the bank was willing to assist the country address its immediate and longer term challenges not only in the area of financing but also contributing with ideas.

In company with Mr. Mensah on the visit were Head of Sub-Saharan Africa of the bank, Mrs. Yvonne Ike Fasinro, and Head of Investment Banking Sub -Saharan Africa, Mr. Chuba Ezenwa.

Dele Alake

Special Adviser to the President

Special Duties, Communication and Strategy

July 4, 2023