President Bola Ahmed Tinubu’s governance efforts since assuming office on May 29, 2023 have been geared towards rebuilding Nigeria’s diplomatic relationships and promoting economic cooperation. In his inaugural speech, President Tinubu emphasised the importance of foreign policy in achieving national objectives, particularly in areas of peace, stability and collective prosperity.
He also highlighted his administration’s commitment to working with regional and international organisations, such as ECOWAS and the AU, to promote peace and stability in the subregion. This commitment has been evident in Nigeria’s increased participation in regional and international forums, as well as its efforts to strengthen bilateral relationships with other countries.
It’s against this background that Tinubu’s recent diplomatic shuttles to France and South Africa have begun to yield significant results, marking a new era of cooperation and strategic investments between Nigeria and these nations.
During his visit to France, President Tinubu witnessed the signing of a Memorandum of Understanding (MOU) between Nigeria and France. This agreement aims to promote and diversify the critical minerals value chain in the solid minerals sector of both countries. The MoU will facilitate joint projects, research, training, and student exchanges, ultimately enhancing the sustainability of mining activities and reducing environmental impact.
The partnership is expected to create new opportunities for the remediation of over 2,000 abandoned pits in Nigeria, as well as promote transparency and international best practices in the mining sector. This development is a significant boost to the Tinubu administration’s efforts to reposition Nigeria’s solid minerals sector for international competitiveness.
Following his visit to France, President Tinubu arrived in Cape Town, South Africa, to co-chair the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) alongside President Cyril Ramaphosa. The BNC aims to strengthen ties between the two nations and promote cooperation in areas such as diplomacy, economy, trade, security, and more.
The 11th session of the BNC featured deliberations across eight working groups, focusing on specific areas of mutual interest. Officials from both countries signed several MoUs and agreements, marking a significant milestone in Nigeria-South Africa relations.
This year’s meeting coincides with the 25th anniversary of the commission, highlighting the enduring friendship and cooperation between Nigeria and South Africa. As President Tinubu returns to Nigeria, it is clear that his diplomatic efforts have yielded substantial results, paving the way for a brighter future in Nigeria’s relations with France and South Africa.
Additionally, President Tinubu scored a diplomatic high on Tuesday. South African President Cyril Ramaphosa announced the relaxation of visa policies towards Nigerian tourists. This move is expected to boost tourism and business ties between the two nations.
As Ramaphosa noted, Nigerian tourists can now apply for a visa without submitting their passport. The President of the Rainbow nation affirmed that South Africa has simplified its visa processes to make travel easier for Nigerian business people and tourists. Measures such as five-year multiple-entry visas have been introduced to facilitate this process.
The diplomatic meeting between Tinubu and Ramaphosa is a significant step towards strengthening economic ties between Nigeria and South Africa as Ramaphosa stated. The South African president also reaffirmed his country’s commitment to removing barriers to increased investment and addressing the challenges faced by companies in both nations. He noted that Nigeria hosts several South African companies, and South Africa has always welcomed Nigerian businesses.
We have never seen a thing like this before. Tinubu had in the early phase of his administration scored diplomatic high with the attraction of significant foreign direct investments (FDI). For instance, during a visit to India, in September 2023, Indian investors pledged $14 billion in investments, a testament to the administration’s economic diplomacy. This investment is expected to have a positive impact on Nigeria’s economy, particularly in the areas of infrastructure development and job creation.
Furthermore, the Tinubu administration has been actively engaged in bilateral and multilateral diplomacy. He has met with several world leaders, including King Charles III of England, and has participated in international forums. These engagements have provided opportunities for Nigeria to promote its national interests and to strengthen its relationships with other countries.
In addition, the Tinubu administration has been working to strengthen Nigeria’s relationships with other African countries. For example, President Tinubu has met with several African leaders, including the President of South Africa to discuss issues of mutual interest and to promote regional cooperation.
While there are still challenges to be addressed, particularly in the areas of security and economic development, President Tinubu’s diplomatic efforts have set the tone for a more engaged and cooperative Nigeria on the international stage. As Nigeria continues to navigate the complex world of international diplomacy, President Tinubu’s leadership is providing a much-needed boost to the country’s global reputation.
At home, while the restart of the Port Harcourt refinery is a positive development, Nigeria still faces significant challenges in creating a business-friendly environment. Despite the claims of ease of doing business, many multinational companies have exited or divested from Nigeria due to various issues.
Examples of companies that have left or divested from Nigeria include Diageo, Jumia Food, Heineken, Proctor & Gamble, Unilever, and Lafarge Africa, which was recently acquired by a Hong Kong firm, Huaxin Cement.
While the Tinubu administration’s efforts to improve the business environment are acknowledged, more needs to be done to address the underlying issues driving away investors. Attracting investors back to the country like PAN Nigeria in Kaduna, Fiat in Kano, Volkswagen in Lagos, and Sonya Electronics will require significant improvements in Nigeria’s business climate.
Nigeria’s economic reforms are gaining momentum, and it’s essential to acknowledge the efforts being made. The Tinubu administration has initiated various reforms aimed at reshaping the country’s macroeconomic policy. These reforms are crucial in addressing the structural imbalances that have hindered Nigeria’s economic growth.
President Tinubu’s diplomatic efforts are, indeed, warming Nigeria’s way to international acceptance. His state visit to France, the first by a Nigerian leader in 24 years, is a significant milestone in strengthening bilateral relations between the two countries. The visit has opened up new opportunities for cooperation in areas such as trade, security, and defense.
You’ll agree with me that one of the sectors that cause capital flight for Nigeria is automobile importation. As Mr. President continues with his diplomatic trouble-shooting there’s a need to engage our international partners to revive the automobile sector that was once the pride of Nigeria. I still hope that one day, car assembly companies like Steyr (Nigeria) Ltd, Bauchi, one of the four Automobile Assembly plants established in the country about 40 years ago, will return to Nigeria like the biblical prodigal son.
While there are still challenges to be addressed, including the need to appoint Ambassadors to key diplomatic missions, Tinubu’s efforts are helping to reposition Nigeria as a key player on the international stage. As Nigeria continues to navigate the complex world of international diplomacy, President Tinubu’s leadership is providing a much-needed boost to the country’s global reputation.
In conclusion, I must hail President Tinubu for the tax reform bills which have scaled through second reading at the Senate. Curiously, some persons have chosen to plat regional politics out of a policy direction that is clearly fashioned to uplift Nigerians from the economic morass they have found themselves.
I urge the president to remain calm and focused. Nigerians are fully behind him. He must stay focused on his vision to transform the country. According to statistics from analysis by economic experts and professional interested groups, it is clear that most of the noise makers confusing the citizens with their warped position on the tax reforms are politicians angling for 2027. But thank God most Nigerians are not gullible to this media propaganda. The citizens about why some governors are against the tax reform but refuse to account for the huge federal allocations they receive monthly following subsidy removable which is also the outcome of President Tinubu’s policies.
I would also thank God for giving me the courage to stand firm for the truth in the course of letting Nigerians understand that whatever they gave is not about the president, but the entire governance system at all levels. I humbly ask my readers to forgive me if I have wronged them with my contrary views to what has become a routine that public commentaries in Nigeria are always fashioned against the government. I have forgiven all those who have taunted me in the process throughout this year. This, indeed, has become necessary as I prepare to proceed for my annual vacation. God bless Nigeria!
