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President Bola Tinubu urges Samsung to invest in Nigeria’s thriving market

By Ken Ibenne

President Bola Tinubu has extended a warm invitation to Samsung, urging the global powerhouse to consider Nigeria as a prime investment destination.

Tinubu emphasised Nigeria’s conducive business environment, rooted in the principles of “willing buyer, willing seller,” promising seamless access to finance for both local and international investors.

The call came during a meeting held in Riyadh, Saudi Arabia, between President Tinubu and Samsung’s President and CEO, Hong Namkoong, and Vice Chairman of Samsung Investment Global, Jungwook Kim. The discussions coincided with the World Economic Forum’s Special gathering on Global Collaboration, Growth, and Energy for Development.

Tinubu underscored Nigeria’s vast potential, boasting a large and skilled workforce eager for growth and development. He highlighted the nation’s commitment to fostering an environment ripe for investment, leveraging the Renewed Hope Infrastructure Development Fund to unlock opportunities across various sectors.

The President outlined specific investment prospects, including infrastructure development and technology initiatives, aligning with Samsung’s expertise. He emphasised the importance of collaboration in key sectors such as crude oil, natural gas, renewable energy, engineering, technology, and agriculture.

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In particular, Tinubu highlighted the opportunity for Samsung to contribute to Nigeria’s energy sector, citing the company’s track record in building power plants worldwide and its expertise in renewable energy solutions. He also emphasised the potential for private sector involvement in developing integrated cold-chain infrastructure within the agriculture sector to mitigate post-harvest losses.

Expressing enthusiasm for collaboration, Tinubu urged Samsung to seize the opportunity and leverage its experience for mutual benefit. In response, Samsung Chairman Jungwook Kim expressed interest in expanding the company’s presence in Nigeria, citing the success of sister firms operating in the region.

Kim outlined Samsung’s capabilities in power generation and renewable energy solutions, expressing confidence in the company’s ability to make significant contributions to Nigeria’s energy industry.

Overall, President Tinubu’s call for investment underscores Nigeria’s commitment to attracting foreign investment and fostering economic growth, presenting Samsung with a lucrative opportunity to capitalise on the nation’s vibrant market and contribute to its development.

Editorial Team
Editorial Team
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