News
Ogunlesi backs Tinubu reforms as FIRS chairman Adedeji highlights export-led economy
Joel Ajayi
After a high-level meeting with President Bola Tinubu in Abuja, Nigerian-born global investor Adebayo Ogunlesi expressed renewed confidence in the country’s economic reforms, indicating potential mega investments across energy, aviation, and port sectors.
He was joined in that optimism by Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), who stressed that the reforms were laying the groundwork for an export-driven economy.
Speaking to journalists after the closed-door meeting, Ogunlesi praised the sweeping policy changes under Tinubu’s administration, including the removal of subsidies, tax reforms, and the revival of a refinery already exporting aviation fuel.
“We had an excellent meeting where we discussed how to put Nigeria front and center for international investment. The President was very encouraging, and we shared useful suggestions on driving economic growth,” Ogunlesi said.
Although he declined to reveal specific details, Ogunlesi confirmed that his firm is actively investing in Nigeria and assessing new opportunities.
“Watch this space. Nigeria is not yet the most exciting investment destination, but that’s what we are working on,” he teased.
Pressed on the sectors of interest, Ogunlesi highlighted energy, gas, aviation, ports, and renewables. Drawing on his firm’s experience with LNG projects in Texas and Australia, he noted Nigeria’s massive untapped gas reserves.
On aviation, he acknowledged his reputation as “the guy who bought Gatwick Airport” and signaled interest in similar ventures locally.
He also admitted that one of his companies operates ports in Cotonou and Lomé but none in Nigeria, a point Tinubu reportedly challenged him on.
“He forgave me but said, ‘you have to bring port investment to Nigeria,’” Ogunlesi recounted with a smile.
International investor Hakeem Bello-Osagie, who was also present, underscored the importance of diaspora participation in Nigeria’s growth story.
“When Nigerians at home and abroad invest in Nigeria, it sends a strong signal to the world,” he said, lauding Tinubu’s policies for making the country “investable.”
Echoing the sentiment, FIRS chairman Adedeji described the reforms as the foundation for an export-led economy.
“We’ve done the fundamentals, and now it is time to deliver growth,” he said.
With global players signaling confidence, the momentum for Nigeria’s economic repositioning is gaining ground, setting the stage for transformative investments in key industries.
News
Tinubu, PDP Hail Gov Okpebholo’s Road Infrastructural Revolution in Edo
Joel Ajayi
President Bola Ahmed Tinubu has lauded the infrastructural strides of Edo State Governor, Senator Monday Okpebholo, particularly the ongoing construction of the state’s first-ever flyover bridge, describing it as a landmark intervention in easing urban traffic and modernizing Edo’s transport system.
The President extolled the governor’s foresight in embarking on the one-kilometre flyover project at Ikpoba Hill in Ikpoba Okha Local Government Area, noting that its completion would transform vehicular movement and strengthen the urban fabric of Benin City.
Tinubu praised Okpebholo’s early performance in office, affirming that the governor had set a new standard of governance in Edo.
The president represented by the Minister of Works, Engr. Dave Umahi, emphasized that the governor’s bold approach to road and bridge construction in the State underscores the All Progressives Congress’ (APC) progressive agenda.
“This is a 24-span structure, each span measuring 20 meters, amounting to a one-kilometre bridge. The quality and pace of work are impressive. Edo is witnessing a first, and I believe more such projects should follow in Benin City to address the heavy traffic,” Umahi conveyed on behalf of the President.
The Minister contrasted the efficiency of state-driven projects with some federal contracts, lamenting that contractors often display greater discipline when working under governors than when handling federal assignments.
He pledged to enforce stricter accountability standards at the federal level to ensure value for money and timely delivery.
“I commend Governor Okpebholo for insisting on concrete technology. Roads built with reinforced concrete last 50 to 100 years, saving scarce resources. Nigeria cannot continue to spend on recurring reconstruction. We must invest in durability,” Umahi stressed.
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