The CEO of QatarEnergy, Saad Sherida al-Kaabi, has declined an offer to invest in Nigeria, despite President Bola Tinubu’s recent visit to the Middle Eastern nation in search of foreign capital.
With the promise of large returns on investment, President Tinubu has been courting foreign investors.
Additionally, the President promised investors that their investments in Nigeria will be safe during his speech at the recent World Economic Forum in Riyadh, Saudi Arabia.
The reporter claims that after extensive deliberation, al-Kaabi, who also serves as the emirate’s minister of energy, is opposed to his company making an investment in Nigeria.
President Tinubu and Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, in Doha, recently witnessed the signing of historic agreements between both nations, opening a gateway for leveraging the potential of mutual cooperation in pivotal sectors of education, enterprise development, investment promotion, youth empowerment, mining, tourism, and sports.
Before the signing ceremony at the Qatar Presidential Palace, President Tinubu assured his host of Nigeria’s readiness to welcome investors, citing ongoing reforms that support innovation, return on investments, and multiculturalism. This was disclosed in March by Ajuri Ngelale, Special Advisor to the President on Media and Publicity.
“Our people are our biggest asset. Our youth in Nigeria are our greatest asset. They are talented, full of enthusiasm, and confident. They are excellent business associates for the Qatari sector.
They actively look to add value wherever they go, and they are trustworthy and well-educated. A few cannot bring disrepute upon the many. The youth of Nigeria are prepared to be released for the good of both countries.
“The swift speed and comprehensive caliber of Qatar’s development process have been evident to us. It is hard not to be touched by what you have managed to achieve. The nation’s leadership has demonstrated its mettle, and our goal is to learn more.
“The return on investment that you will find in Nigeria is unmatched anywhere else in the world. a vast market of more than 200 million skilled Nigerians who are constantly willing and able to work.
“We currently have a government that represents the dynamism and talent of the Nigerian people, despite some short-term instability.” We are applying the appropriate fixes. Our staff collaborates with our partners as well as with each other. The President declared, “Nigeria is prepared for serious business.”
