President Tinubu Rings Closing Bell Of NASDAQ In US

President of Nigeria, Bola Ahmed Tinubu rang the closing bell of the NASDAQ Stock Market at the U.S. Chamber of Commerce's U.S.- Africa Business Center in Times Square, New York City. He also called Nigeria "the greatest economy" during the event.

The ceremony, which took place on the sidelines of the 78th session of the United Nations General Assembly on Wednesday, symbolizes the significance of the trade relationship between Nigeria and the United States.

President Tinubu was accompanied by the President of the U.S.-Africa Business Center (USAfBC) at the U.S. Chamber of Commerce, Scott Eisner, during the bell-ringing ceremony.

The video of the iconic moment was shared on X, formerly known as Twitter, by President Bola Ahmed Tinubu Media Centre:

"I am happy to bring Nigeria to your doorsteps and honored that we're here today with a bubbling market that will evolve the West African sub-region," Tinubu said from the seven-story tower of the Nasdaq headquarters in New York, ChannelsTV reported.

He continued, "The greatest economy is Nigeria. There is an immense opportunity in Nigeria that you can invest your money without fear."

The Nigerian President went on to mention that his administration removed fuel subsidy alongside "a lot of the bottlenecks." He added, "You are free to take in your money and bring out your money. I count on you to invest in Nigeria."

Considering the subsidy removal, Tinubu has been criticized in Nigeria as the decision made on May 29, caused an increase in fuel prices from N195 per liter to N617 per litre and impacted other products and services including car rental services like Uber.

The federal government also confirmed in June that a 7.5 percent VAT (Value Added Tax) on diesel has been implemented.

Due to the difficult financial situations in the country, thousands of Nigerian youths attacked the National Emergency Management Agency warehouses to find food and non-food items in July. The incident led to the death of four people and 47 were arrested by the security operatives.

However, President Tinubu disclosed in August that the government has saved N1 Trillion ($1.32 billion USD) within two months, following subsidy removal. However, the increase in food and fuel prices continues to outrage Nigerians.

To ease the impact of increased food prices, the Tinubu-led administration announced that it has mobilized $500 million to transform the food system.