On Thursday, President Bola Tinubu stated that the partnerships between Nigeria and the Netherlands need to be beneficial and transformative for both countries' citizens, resulting in 'measurable gains'.
He suggested a creative approach to discover solutions focused on investment to benefit both nations.
Tinubu emphasized the need for the partnerships to be creative and transformative in a way that ordinary citizens of both countries can see 'measurable benefits.' This was mentioned at the Nigeria-Netherlands Business and Investment Forum in The Hague.
The President’s Spokesperson, Ajuri Ngelale, shared details of Thursday’s discussions in a statement titled 'President Tinubu to Dutch industry: partnerships must be transformative; they must result in real gains for our citizens'.
He stressed the importance of stronger connections between Nigeria and the Netherlands, stating that both nations need to explore more innovative ways of working together, such as partnerships, joint ventures, or strategic alliances, to connect markets and facilitate the exchange of goods, services, ideas, and people.
Tinubu argued that his administration is improving Nigeria’s business environment to make it 'very welcoming' through various reforms.
These measures include 'cleaning up our foreign exchange market to make it more transparent for smooth business transactions, removing the fuel subsidy, and the willingness of the Central Bank of Nigeria to facilitate the repatriation of profits for foreign companies, among others'.
President Tinubu stated that the improved business environment in Nigeria is turning the country into an attractive place for investors, encouraging businesspeople to take advantage of these opportunities for mutually beneficial economic partnerships between Nigeria and the Netherlands.
“I am pleased to be at this event of the Nigeria-Netherlands Business Forum, which represents the potential for collaboration and partnership between our two countries.
This forum aims to showcase and promote the potential of beneficial partnerships.
It is known that Nigeria and the Netherlands have had business connections for many years. There is a need to revitalize this relationship. This requires creativity from all of us,” the President commented.
Recognizing the longstanding history of diplomatic relations between Nigeria and the Netherlands, Tinubu urged for stronger bonds, not only in diplomacy but also in commerce, innovation, and enterprise.
Tinubu, noting the unique strengths and resources of the two countries, argued that only collaboration that benefits both parties can harness these strengths, open up new opportunities, and drive economic development.
He mentioned, 'Together, we have the potential to create synergies that will benefit our present and future generations. We should strive to replicate the success stories of various Dutch companies and enterprises by learning and sharing their experiences and strategies for everyone's benefit'.
“As the world prepares for today’s economic challenges, which affect our two countries in many ways, a creative approach to finding investment-focused solutions will be the most effective way to achieve the sustainable development that we all want.
“Following the above vision, I believe that we should strive to integrate this narrative into our daily business activities and move towards adding value to industries, agriculture, innovative technology, sustainable energy, marine economic growth, and the exploration and processing of minerals.”
Concluding his comments, Tinubu stressed that the relationship between Nigeria and the Netherlands will now establish a new tone and basis for stronger economic connections.
“As we participate in conversations and negotiations today, let's do so with openness, trust, and mutual respect.
“Let's hear each other out, learn from one another, and find common ground that will enable us to progress together towards our shared prosperity,” he urged.
Thursday’s meeting is one of several of President Tinubu’s engagements during his three-day official and maiden visit to the European state.
In 2023, the Netherlands was Nigeria’s primary export trading partner, ranking highest among Nigeria’s export destinations, with N1.9 billion worth of goods, representing 15 percent of the total N12.7 billion for the fiscal year.
Both countries signed the Bilateral Investment Treaty in 1992 and collaborated in agriculture, IT, healthcare, and renewable energy.
