Lagos: Alhaji Abdul Samad-Rabiu, Chairman and Founder of BUA Group, has urged Britain and its Western allies to deepen partnerships and increase investments in Nigeria.

According to News Agency of Nigeria, Samad-Rabiu expressed these views in an opinion piece published in the Telegraph of London.

The philanthropist highlighted that President Bola Tinubu’s economic reforms were positioning Nigeria prominently on the global economic map. He noted that Tinubu’s decisive leadership in reforms had significantly reduced Nigeria’s official consumption of petrol by 45 percent.

Samad-Rabiu remarked on the vast opportunities available in Africa, specifically in Nigeria, which accounts for a fifth of sub-Saharan Africa’s population. He emphasized the importance of lowering trade barriers and noted that Britain’s Enhanced Trade and Investment Partnership (ETIP) appears forward-thinking. He cautioned that investment potential would remain undervalued as long as African nations continued with state interventions such as subsidies and price controls.

He praised the Tinubu administration for embracing market economics and shifting policies, which he believes will lead Nigeria toward a better future. Samad-Rabiu observed that after two years of difficult reforms, Nigeria is now well-positioned to leverage its vast natural resources and strategic coastal location for growth.

One of the significant reforms highlighted was the removal of a crippling fuel subsidy by the Tinubu administration. Samad-Rabiu noted that this move, although initially criticized, redirected spending towards development and infrastructure, laying the foundation for long-term growth.

The BUA Group Chairman also discussed the shift from a fixed to a market-determined exchange rate. He explained that previously, only select groups could access the official rate, but now the move has brought monetary stability, encouraging both domestic and foreign investment.

He concluded by asserting that while the benefits of reforms are yet to be fully realized by the public, the strategic direction should be clear to investors. He called on Britain and its Western allies to deepen their partnership with Nigeria as the country steadies itself for future growth.