President Bola Tinubu has stated that his administration has begun the process of addressing the country’s issues of double taxation.
Tinubu spoke when he met with Rwandan High Commissioner Christophe Bazivamo at the state house in Abuja on Friday, according to Ajuri Ngelale, special adviser to the president on media and publicity.
Lorand Endreffy, ambassador of Hungary; Bazivamo, and Ivan Kholostenko, ambassador of Ukraine, also presented letters of credence to the president.
Tinubu assured foreign investors of meticulous and predictable fund repatriation during the visit.
He stated that as they carry out their duties in the country, the ambassadors must prioritise the exploration of new frontiers of trade partnerships that will be mutually beneficial.
Tinubu also said the long-standing concerns over trapped funds are being addressed, and the funds will be processed for release as soon as possible.
He said:
“We are one family on the continent. We will continue to promote democracy and good governance. I will maintain an open-door policy, and the Minister of Foreign Affairs and the Chief of Staff are also available”.
“For the avoidance of doubt, we are already working on the issues of double taxation, and it will be properly streamlined to favour business growth. Nigeria is home and a haven for investors.”
Meanwhile, Tinubu directed Hungary’s ambassador to investigate all possible avenues for forming alliances, particularly in agriculture and food security, as well as how to best utilise the country’s technological know-how.
“Thank you so much for taking care of our students who are in your country. We are a very big country, with huge potential to sustainably spur economic growth,” Tinubu said.
“We are ready to improve relations, especially in the areas of agriculture and food security.”
Also, Tinubu told the Ukrainian ambassador that Nigeria will always strive for world peace and harmony.
“We are with you in prayers. We will continue to support good governance and democracy”.
The Rwandan high commissioner responded by saying that the Rwandan government was ready to strengthen bilateral relations with Nigeria through new visa regulations and trade agreements.
The Hungarian ambassador, for his part, thanked the president for his bold, courageous, and strategic decisions to realign the Nigerian economy.
According to the ambassador, several areas of cooperation with Nigeria include medical technology, education, agriculture, food security, and security.