Tinubu’s foreign trips attract over $50 billion in investments — Presidency
By Kunle Sanni
The Presidency says President Bola Tinubu’s international engagements over the past two years have attracted more than $50 billion in Foreign Direct Investment (FDI) commitments to Nigeria.
The disclosure was made on Monday by Ambassador Sola Enikanolaye, Senior Special Assistant to the President on Foreign Affairs and International Relations, during a mid-term review of the administration’s foreign policy achievements.
According to Enikanolaye, since assuming office on May 29, 2023, President Tinubu has undertaken 36 foreign visits to countries across Africa, Europe, Asia, the Middle East, and the Americas. These include trips to China, India, France, Germany, the United Kingdom, the United States, Qatar, the United Arab Emirates, Brazil, and several African countries.
“These visits were not ceremonial,” Enikanolaye said. “They have elevated Nigeria’s global standing and resulted in concrete investment pledges that now exceed $50 billion.”
He listed multinational corporations and investors such as ExxonMobil, TotalEnergies, Coca-Cola, Apple, Maersk, Indorama, Jindal Steel, Sunil Bharti Enterprises, Shell, Afreximbank, and other private-sector actors as key contributors to the inflow. He also highlighted a waste-to-wealth industrial facility in Lagos as one of the projects tied to these engagements.
The presidential aide attributed the growing investor confidence to the administration’s bold economic reforms, coupled with an active and focused foreign policy. He noted that beyond the financial value, the engagements have also led to opportunities in skills development and technology transfer.
Nigeria’s strategic partnership with China, now elevated to a Comprehensive Strategic Partnership, was also highlighted. The enhanced relationship covers infrastructure development, currency swap deals, and various bilateral agreements.
On climate diplomacy, Enikanolaye said Nigeria has remained a vocal player in global climate change discussions. He noted President Tinubu’s consistent advocacy on issues affecting the country, such as rising sea levels, flooding, shrinking water bodies like Lake Chad, and threats to food security. He said Nigeria is pushing for improved access to climate finance through global frameworks.
