Nigeria, Qatar Sign Historic Multi-Sectoral Deal

President Bola Ahmed Tinubu and Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani witnessed the signing of multi-sectoral agreements between Nigeria and Qatar on Sunday in Doha.

The multi-sectoral agreements, signed over education, enterprise development, investment promotion, youth empowerment, mining, tourism and sports sectors, will allow Qatar to make investments in Nigeria.

Ahead of the signing ceremony at the Qatar Presidential Palace, Tinubu told the Emir of the State of Qatar that Nigeria is all set to welcome investors in the country, adding that the ongoing reforms are in favor of return on investments, multiculturalism and innovation.

"Our greatest strength is our people. Our strength lies in the capacity of Nigerian youths. They have energy, talent, and self-belief. They are quality partners for Qatari industry," he said, as per the statement shared on the official X handle (formerly known as Twitter).

He added, "They are educated and reliable, and they are proactively seeking to add value wherever they are. A few cannot give a bad name to the many. Nigerian youths are ready to be unleashed for the mutual benefit of both nations."

Tinubu noted that Nigeria has seen the rapid pace and thorough quality of Qatar's development process, adding that he is moved by what the Middle Eastern country has accomplished.

He said that Qatar has "proven its mettle, and we are here to gain deeper insight," emphasizing that there is no other country in the world where Qatar can find a return on investment as much as Nigeria can offer.

The president stressed that Nigeria consists of more than 200 million skilled Nigerians who are always industrious and ready to work. However, Tinubu acknowledged the difficult phase the country is going through at this moment due to economic reforms.

"We face some short-term turbulence at the moment, but we have a government today that reflects the dynamism and talent of the Nigerian people. We are implementing the right solutions. This team works collaboratively with each other and our partners," he said.

Tinubu doubles down that Nigeria is ready for "serious business."

The Emir of the State of Qatar, on the other hand, also spoke during the signing ceremony and emphasized that Qatar is open to investing in Nigeria, noting that he doesn't doubt the Nigerian people's great capacity.

Al Thani said that Nigerians around the globe are known for their brilliance and hard work. However, he pointed out that Tinubu needs to ensure that this hard work also happens inside Nigeria like Nigerians are doing outside the country.

"The investments we have made around the world have been very fruitful. This is because we take our time and study opportunities before we invest the common wealth of our people. It is not my money. The money we invest belongs to the future generations of Qatar," he said.

He added, "Mr. President, I am very encouraged by your actions and your passion to create new opportunities. We are very open to this, and follow-up is everything at this point. The will is there for both of us, but we must follow up."

Al Thani said that he will be sending a team of officials to Nigeria after Ramadan for advance discussions regarding "actionable investment opportunities."