President Tinubu Announces $30 Billion in Foreign Direct Investment for Nigeria

President Tinubu has made a significant announcement that Nigeria has secured $30 billion in Foreign Direct Investment (FDI) within the first nine months of his administration.

This substantial influx of capital aims to bolster the country’s economy across various sectors.

During the 2023 Leadership Annual Conference and Award in Abuja, the President shared this achievement.

Represented by the Minister of Information and National Orientation, Mohammed Idris, President Tinubu highlighted the sectors benefiting from this investment, including manufacturing, telecoms, healthcare, oil and gas, and more.

“These investments have already started flowing into the country,” he stated. Recently, during an official visit to Qatar, the Emir confirmed that a senior government delegation would visit Nigeria post-Ramadan.

President Tinubu has tasked the Minister of Finance and Coordinating Minister of the Economy with ensuring swift progress in collaboration with Qatari authorities.

The Nigerian economy exhibited a stronger-than-expected performance in the last quarter of 2023, with a growth rate of 3.46%, compared to 2.54% in the previous quarter.

Additionally, capital importation into Nigeria saw a 66% increase in Q4 2023, reversing a previous decline.

In a remarkable milestone, the Nigerian Stock Exchange All Share Index (ASI) surpassed the 100,000-point mark in January 2024, reaching its highest level ever.

“There is no one who looks at this data who will conclude that ‘distressed’ is the accurate way to describe the Nigerian economy,” President Tinubu asserted, highlighting the positive trajectory of the nation’s economic landscape under his leadership.