• Sunday, March 03, 2024
businessday logo

BusinessDay

Tinubu’s diplomatic marathon yields $15bn investment pledge — Idris

Lagos rail project validation of democracy, says Tinubu

Mohammed Idris, minister of information and national orientation, says the recent foreign trips embarked on by President Bola Tinubu has attracted $15bn pledges of Foreign Direct Investment .

Idris, who disclosed this on Abuja on Thursday said the pledges span sectors such as energy, steel, defense, automotive, among others.

Over the past few months, Tinubu embarked on a series of diplomatic missions, showcasing Nigeria’s potential and fostering international partnerships. His itinerary included events such as the Summit on New Global Financing in Paris, the G20 Summit in India, the United Nations General Assembly in New York, the Saudi-Africa Summit in Riyadh, the G20 Compact with Africa Conference in Berlin, Germany, and the Climate Change Summit in the UAE.

Idris stressed that these engagements were not mere diplomatic formalities but a deliberate effort to stimulate economic growth, create job opportunities, and enhance overall prosperity for Nigerian citizens.

“The positive outcomes of these international shuttles are evident in expressions of interest from various quarters to invest in critical sectors of Nigeria’s economy”, he said.

The minister enthused that the influx of foreign investments is poised to contribute significantly to infrastructure development, enhance petroleum refining capacity, facilitate technology transfer, and advance key sectors, and to further solidify Nigeria’s position on the global economic stage.

Highlighting the actions taken by investors, Idris pointed out that a month ago, one of Japan’s largest pharmaceutical companies broke ground on a multi-million-dollar manufacturing plant in Ogun State marking the company’s first-ever investment in Africa, and signaling a new era of international collaboration and economic growth for Nigeria.