We have secured $30 billion in Foreign Direct Investment – President Tinubu.
President Bola Tinubu has mentioned that within the first nine months of his administration, Nigeria has secured $30 billion worth of Foreign Direct Investments to support the country’s economy.
Tinubu made this statement during the 2023 Leadership Annual Conference and Award held on Tuesday in Abuja. The event, focusing on “An Economy in Distress: The Way Forward”, was hosted by the Leadership Group.
In a statement delivered by Minister of Information and National Orientation, Alhaji Mohammed Idris on behalf of Tinubu, it was emphasized that the Nigerian economy is not in a state of distress, rather it is currently navigating through challenging circumstances.
“Since we assumed office in May 2023, we have attracted $30 billion in Foreign Direct Investment (FDI) commitments into the real sectors of the economy, including manufacturing, telecoms, healthcare, oil and gas, and others.
“Those investments have already started coming into the country. Just a few days ago, I was in Qatar on an official visit, where the Emir assured that a senior government delegation would visit Nigeria after Ramadan.
“I have asked the Minister of Finance and Coordinating Minister of the Economy to directly interface with the Qatari authorities to ensure that speedy progress is made.
“The Nigerian economy saw a better than anticipated performance in the last quarter of 2023, growing by 3.46 per cent, compared with 2.54 per cent in the preceding quarter.
“Capital Importation into Nigeria was up by 66 per cent in Q4 2023, reversing a 36 per cent decline in the previous quarter.
“Capital Importation into Nigeria was up by 66 per cent in Q4 2023, reversing a 36 per cent decline in the previous quarter.
“In January 2024, the Nigerian Stock Exchange All Share Index (ASI) crossed the 100,000 points mark, its highest ever.
“There is no one who looks at this data who will conclude that “distressed” is the accurate way to describe the Nigerian economy,” | Sylvester Joseph
