- The investments followed President Bola Tinubu’s visits to India and discussions with oil and gas sector investors
On Friday, the Federal Government announced securing investment commitments totaling $30 billion from foreign investors within the past eight months.
Minister Doris Anite revealed this during a press briefing organized by the Ministry of Information and National Orientation to update the public on the current administration’s economic policies and reforms.
The investments followed President Bola Tinubu’s visits to India and discussions with oil and gas sector investors. Anite highlighted that the removal of fuel subsidies and the unification of foreign exchange played pivotal roles in attracting investments, fostering economic growth, job creation, and improving access to capital.
She said, “The Federal Government has secured an investment commitment of $30bn since we came into power eight months ago. It means the investors are going to bring in the money or a promise to bring in the investment. So the money, investment, proposal and every other thing is done.
“Some have already started building and the investments will come in over a period of five to eight years. Some of the monies will come in form of equipment, direct investments into manufacturing and into the facilities. So that fund is here already.”
She recalled that at the G20 summit in India, a $14bn worth of FDI inflow to Nigeria was announced and actualised, adding that the investments had already begun in different sectors of the economy.
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