Tinubu Vows to Adopt Worldwide Best Practices to Revitalize Nigeria’s Economy

President Bola Tinubu has reiterated his administration’s commitment to learning from other countries and adopting global best practices to drive Nigeria’s economic growth.

Speaking during a meeting with an Airtel delegation on Thursday led by its Chairman, Sunil Bharti Mittal, at the State House in Abuja, Tinubu noted the need to review the telecoms sector’s regulatory framework and operations to reflect global standards.

“We are prepared to learn. We are not ashamed of copying what is working in other climes,” Tinubu said, citing India as a potential model for Nigeria’s economic reforms.

“The entire ecosystem will be further examined, and if there is anything we can copy from India, we are ready to do so.”

Tinubu also assured investors that his administration would continue to create a favorable business environment, with a focus on protecting infrastructure and encouraging growth.

“We will find a way to work with tax administrators to ensure that whatever we have to do, we will encourage growth and opportunities. We are ready to do that,” he said.

Mittal, in his remarks, commended Tinubu’s administration for its economic reforms, which he said had transformed the economy for future growth.

Mittal drew parallels between Nigeria’s current economic situation and India’s experience in 1991, when the country was facing significant economic challenges.

“The duties went down, the rupee was floated, and it depreciated significantly. Relicensing happened, and it was the dawn of a new world in India. We just moved forward,” he said.

Mittal applauded Tinubu’s administration for its courage in implementing reforms, including the removal of the petrol subsidy, which he described as a “tough decision” that would have long-term benefits for the country.

Also speaking, the Minister of Communication, Innovation, and Digital Economy, Dr. Bosun Tijani, commended President Tinubu for his consistent support for the telecoms sector’s growth, citing the approval for the protection of fibre optic and undersea cables as critical national assets.

He said the President’s willingness to adopt global best practices and learn from other countries’ experiences is a positive step towards achieving sustainable economic growth and development.