Nigeria Secures $15 Billion in Foreign Investment Pledges from President Tinubu’s International Engagements
During a World Press Conference at the National Press Centre, Radio House, Abuja, on Thursday, Federal Minister of Information and National Orientation, Mohammed Idris, announced that President Bola Tinubu’s international engagements have resulted in pledges of over $15 billion in Foreign Direct Investment (FDI) across various sectors of Nigeria’s economy.
The press release, shared on the official handle of the Federal Ministry of Information and National Orientation by Suleiman Haruna, Deputy Director of Press, highlighted the impact of President Tinubu’s engagements in showcasing Nigeria’s potential and commitment to global collaboration.
According to Idris, the pledged investments span diverse sectors such as energy, steel, defence, and automotive industries. He noted that some investors have already taken concrete steps, citing the example of a major Japanese pharmaceutical company that has initiated the construction of a multi-million-dollar manufacturing plant in Ogun State.
In addition to discussing the economic impact of President Tinubu’s initiatives, Idris highlighted the administration’s bold economic policies, acknowledging that they may present immediate challenges but are designed to position Nigeria for rapid growth. He cited the removal of fuel subsidies as a tough but necessary decision aligned with the government’s vision for a more efficient and transparent economy.
The Minister also addressed the government’s commitment to food security, emphasizing the administration’s efforts to tackle food scarcity, which has been a significant concern impacting agricultural growth and national food supply.
Regarding security challenges, Idris reiterated President Tinubu’s comprehensive approach, focusing not only on military interventions but also on addressing the root causes of insecurity. The goal is to create a safe and secure environment where citizens can live without fear.
President Tinubu’s international engagements have not only attracted significant foreign investment pledges but also demonstrated the government’s commitment to addressing key economic and security challenges facing Nigeria.
Source: Nairametrics
