Nigeria has secured $50bn investment deals – Oduwole
The federal government says it has secured $50.8 billion in investment commitments through a series of international engagements, including President Bola Tinubu’s recent overseas visits. Jumoke Oduwole, Minister of Industry, Trade, and Investment, disclosed this during a ministerial press briefing organised by the Ministry of Information in Abuja on Tuesday. Oduwole said, “We must recognise […]
PEBEC Secretary and Special Adviser to President on Ease of Doing Business Dr. Jumoke Oduwole
The federal government says it has secured $50.8 billion in investment commitments through a series of international engagements, including President Bola Tinubu’s recent overseas visits.
Jumoke Oduwole, Minister of Industry, Trade, and Investment, disclosed this during a ministerial press briefing organised by the Ministry of Information in Abuja on Tuesday.
Oduwole said, “We must recognise the importance of tracking investments generated through the president’s engagements,” 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 said the president’s trip to the G20 summit, where global exporters and producers pledged investments exceeding $50 billion in Nigeria.
She said, “These companies have visited Nigeria to assess opportunities and are committed to turning these announcements into actual investments,” underscoring the need for rigorous follow-through on trade and investment deals.
The minister reiterated the government’s firm 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.
The minister also addressed Nigeria’s initial hesitance to join the African Continental Free Trade Area (AfCFTA), explaining that the primary concern was safeguarding local businesses from unfair competition