President Bola Tinubu has held talks with senior officials of the Organisation for Economic Co-operation and Development on strengthening support for Nigeria’s economic reforms and improving the country’s investment climate.
The meeting took place on Friday in Kigali, Rwanda, on the sidelines of the Africa CEO Forum 2026.
According to a statement issued by presidential spokesman Bayo Onanuga, discussions focused on possible cooperation between Nigeria and the OECD in areas including public finance reforms, trade competitiveness, investment promotion, agriculture, pharmaceuticals, solid minerals and support for micro, small and medium enterprises.
OECD Deputy Secretary-General Frantisek Ruzicka commended the Tinubu administration’s reform agenda and pledged support through economic and investment data aimed at boosting policy planning and investor confidence.
“We support and understand the pillars of your reforms. I think other leaders should learn from you, especially in improving public finances and working conditions,” Ruzicka said.
President Tinubu stressed the need to change global perceptions about Africa’s investment environment, noting that transparency, accountability and discipline were critical to attracting sustainable investments.
“Africa’s risk perception must change. Africa must be disciplined and accountable over various projects,” the president said.
Tinubu also defended his administration’s economic policies, including the removal of fuel subsidy and the unification of foreign exchange rates, describing them as difficult but necessary decisions taken in the national interest.
“The removal of the subsidy was necessary. There was a fight back. Easy access is hard to give up. Even the multiple exchange rates had to go,” he said.
The president further emphasised the need for stronger value-chain development in sectors such as agriculture and pharmaceuticals to reduce dependence on raw material exports and support industrialisation across Africa.
Both parties also discussed opportunities under the African Continental Free Trade Area framework, including regional trade integration, support for small businesses and improving African participation in global value chains.
Key areas identified for cooperation include pharmaceuticals, agriculture, solid minerals, MSME development, investment promotion and tax-to-GDP reforms.
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