Tinubu attracts $50.8bn investments deals – Trade Minister
…embarks on 413 foreign trips in 22 months
By Tunde Opalana
President Bola Tinubu has attracted investment deals in the excess of $50.8 billion into the country since he assumed office on May 29, 2023.
Minister of Industry, Trade and Investment, Jumoke Oduwole disclosed this in Abuja on Tuesday at a ministerial press briefing organized by the Federal Ministry of Information and National Orientation.
The minister, said the 413 foreign trips embarked upon by Tinubu’s has positively yielded investment commitments which is a major boost the economic diversification agenda of the Renewed Hope Agenda of his administration.
She said, “we must recognise the importance of tracking investments generated through the President’s engagements.
“The President Tinubu’s 413 international trips have been instrumental in securing over $50.8 billion in investment announcements.”
She noted that one of the critical challenges ahead is ensuring that these investment commitments materialise.
The Minister specifically mentioned pledging of over $50 billion investments by global exporters and producers to President Tinubu during his trip to the G20 summit.
She said “these companies have visited Nigeria to assess opportunities and are committed to turning these announcements into actual investments”.
While stressing the need for rigorous follow-through on trade and investment deals, the minister
emphasized the importance of an effective tracking system to monitor the progress of these investment deals.
“It’s not just about making announcements; we must remove all bottlenecks to ensure these deals come to fruition,” she said.
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Oduwole promised Federal Government’s commitment to creating a conducive business environment and enhancing Nigeria’s global standing in trade.
“We are not just diversifying our foreign exchange sources, but positioning Nigeria as a formidable player in the global trade arena,” Oduwole said.
“Nigeria’s efforts to host a major international trade and investment event, set to coincide with the country’s 50th festival anniversary in 2027.
“This event, if secured, would be a game-changer, showcasing Lagos as a hub for infrastructure, hospitality, and business opportunities. Officials are optimistic that winning the bid will cement Nigeria’s role as an economic leader in Africa,” she the minister.
