Tinubu welcomes ENI’s proposed investment, highlights reforms for global competitiveness

By Kunle Sanni

President Bola Tinubu praised the international energy company ENI for its proposed new investment in Nigeria, reaffirming his vision of making the nation a globally competitive investment destination.

Speaking on Friday in Abuja, during a meeting with a delegation from ENI, led by CEO Claudio Descalzi, at the Presidential Villa, President Tinubu expressed his administration’s commitment to transforming Nigeria into an investment hub.

“ENI, we welcome your team again. Claudio, it is an honor to welcome you back to your second home, Nigeria. I am glad you noted that we are making significant changes with a long-term investment strategy,” President Tinubu said.

He emphasized the need for continuous innovation and reform, saying, “We cannot grow today’s seed with yesterday’s belief system. We must be intellectually inquisitive and reform our way of doing things. Africa is in an accelerated mode to compete globally, not in a begging mode.”

President Tinubu assured that the ongoing reforms would benefit both investors and Nigerians. “We are determined to lead these reforms and attract investments. The fossil fuel problem is there, but science and technology are advancing. We will continue to assure you that Nigeria will be a global investment destination. I encourage you to put a timeline on your investment strategy; it will stimulate further global interest.”

He also commended ENI’s long-standing confidence in Nigeria and its diversification into agriculture. “We are ready to partner with you in infrastructural development, making arable land available, and innovative research,” he added.

Claudio Descalzi, CEO of ENI, expressed gratitude for the opportunity to return to Nigeria and reiterated the company’s commitment to increasing its investments, particularly in the agricultural sector.

“It is quite emotional to be back in Nigeria after nine years. We are inspired by your leadership and the new era you are promoting for Nigeria. We want to demonstrate that Nigeria is a thriving investment destination, contrary to negative perceptions. We aim to be champions of this new era, supporting your endeavors and promoting Nigeria globally,” Mr. Descalzi stated.

He affirmed ENI’s dedication to working closely with Nigeria and acting as ambassadors for the country in Europe and beyond, highlighting the company’s confidence in President Tinubu’s leadership.