President Bola Tinubu has signed the New Global Financial Pact in Paris, France, after visiting the European country for a summit that bares a similar name to the agreement.
The New Global Financial Pact was drafted to prioritise vulnerable countries for support and investment. This was disclosed at the summit attended by other world leaders as well.
He signed the New Global Financial Pact on Friday after leaving Nigeria for Paris on Tuesday. The investment was reached among world leaders due to the impact of climate change, the energy crisis, and the COVID-19 pandemic on economies of the developing countries.
Meanwhile, in a statement released by Tinubu’s special adviser on special duties, Dele Alake, on Thursday, the President met with the President and Chairman of the board of directors of African Export-Import Bank (Afrexim), Benedict Oramah, and the President of European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, in two separate meetings.
He told them Nigeria is ready for business and prepared to welcome investments, as his administration begins crucial economic reforms to stimulate recovery for the growth and prosperity of our people, which Tinubu said is not far away, “Nigeria is ready for global business and our reform is total,” Tinubu said.
Tinubu began reforming the economy through the removal of fuel subsidy, devaluation of the Naira and unification of the multiple exchange rates, as well as proposing an end to subsidised electricity supply.
