MTN Nigeria

Mr Sunday Dare, Special Adviser on Media and Public Communications to the President, made this known on Wednesday in a statement ahead of Tinubu’s participation at the Africa CEO Forum 2026 in Kigali, Rwanda.

The statement, titled “In Rwanda, Tinubu Pitches the Nigerian Business Case to the Rest of Africa,” described Kigali as the stage for one of the administration’s most significant investor engagements since assuming office.

According to Dare, Tinubu’s message to investors is straightforward: Nigeria remains one of the world’s most profitable investment destinations, where properly scaled businesses can generate extraordinary returns beyond conventional market expectations.

He said while most global investment models project returns between 20 and 25 per cent, Nigeria has consistently exceeded such projections because of its population size, expanding demand, and rapidly evolving reform environment.

Dare cited telecommunications giant MTN Nigeria as an example, noting that the company’s market growth, subscriber expansion, and profitability far exceeded initial expectations after entering Nigeria’s market in 2001.

He said MTN Nigeria now generates trillions of naira annually and remains one of the most valuable companies listed on the Nigerian Exchange, reflecting the country’s enormous commercial and consumer market potential.

The presidential aide also referenced MultiChoice, promoters of DStv, saying the company’s Nigerian operations evolved into one of its strongest commercial bases due to urban expansion, rising consumption, and demographic scale.

Dare acknowledged that Nigeria’s challenges remained visible and sometimes exaggerated, but insisted that beneath them lies one of the world’s deepest consumer markets and one of Africa’s most entrepreneurial populations.

He said Nigeria also possesses expanding infrastructure opportunities, growing technology ecosystems, abundant mineral resources, and unmatched demographic energy capable of driving sustained industrial and economic growth across the African continent.

According to him, the Africa CEO Forum represents more than a conference, describing it as a marketplace for investment capital, partnerships, policy direction, and strategic discussions shaping Africa’s economic future and competitiveness.

He said over 2,000 chief executives, investors, financiers, policymakers, sovereign wealth managers, and multinational decision-makers would attend the Kigali forum to discuss Africa’s future growth opportunities and economic transformation strategies.

Dare said Nigeria intended to ensure its economy remained central to those discussions by presenting ongoing reforms as part of a deliberate strategy to restore macroeconomic credibility and attract sustainable investments.

He listed the administration’s reforms to include fuel subsidy removal, exchange rate liberalisation, tax modernisation, infrastructure concessions, power sector restructuring, gas commercialisation, and digital economy expansion initiatives.

According to him, the administration recognises that reforms alone are insufficient unless effectively communicated to investors who require confidence, policy clarity, predictability, leadership resolve, and a stable long-term economic direction.

Dare noted that in spite of the temporary turbulence associated with reforms, global investors understood that periods of structural transition often create some of the most significant long-term investment opportunities for emerging economies.

He said Nigeria’s youthful population, strategic location, urban expansion, natural resources, and opportunities under the African Continental Free Trade Area positioned the country for large-scale industrial and commercial competitiveness.

The presidential aide described Kigali as more than a diplomatic stop, calling it a launch pad for Nigeria’s continental investment outreach strategy and a platform for Tinubu to personally present Nigeria’s economic proposition.

He recalled Tinubu’s previous engagements in Equatorial Guinea and Tanzania, where the President advanced energy cooperation, infrastructure financing, and regional development discussions as part of broader continental economic diplomacy.

Dare said Nigeria’s message in Kigali would remain clear: reforms are ongoing, opportunities are expanding, risks are manageable, and the country remains Africa’s most compelling destination for investment, enterprise, industrialisation, and scalable profitability.

Reports that the  2026 Africa CEO Forum holds in Kigali, Rwanda from May 14 to May 15, bringing together over 2,000 top business executives, investors and government leaders. (NAN)