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NIGERIA ATTRACTS COMMITMENTS OF $15 BILLION IN FOREIGN DIRECT INVESTMENTS

Mohammed Idris, Nigeria’s Minister of Information and National Orientation, announced that President Bola Ahmed Tinubu has successfully garnered more

NIGERIA ATTRACTS COMMITMENTS OF $15 BILLION IN FOREIGN DIRECT INVESTMENTS

Mohammed Idris, Nigeria’s Minister of Information and National Orientation, announced that President Bola Ahmed Tinubu has successfully garnered more than $15 billion in foreign direct investment commitments from diverse countries and companies during his overseas trips. These endeavors are integral to unleashing investment opportunities in Africa’s most populous nation. According to the Minister, the President’s interactions have not only highlighted Nigeria’s potential but also underscored its dedication to being a responsible and cooperative participant in the global arena.

“We have witnessed commitments exceeding $15 billion in foreign direct investments across various sectors, including energy, steel, defense, and automotive,” stated Idris during a World Press Conference in Abuja, Nigeria’s capital.

He highlighted ongoing investor initiatives, citing a significant move by one of Japan’s major pharmaceutical companies to construct a multimillion-dollar manufacturing plant in Ogun State—the company’s first investment of this kind in Africa.

Economic Restructuring

Idris emphasized the President’s decisive efforts to reshape the economy for rapid growth and development, citing measures such as the removal of fuel subsidies and the declaration of a food security emergency. These decisions align with the vision of a more efficient, transparent, and responsibly governed Nigeria. The government is actively working to ensure that the benefits of a sustainable economic future reach all citizens.

Addressing Security Challenges

The Minister underscored the President’s commitment to addressing insecurity as a top priority, implementing comprehensive strategies to tackle root causes and create a safer, more secure Nigeria. The approach goes beyond military interventions, encompassing non-kinetic methods to quell immediate threats and establish an environment free from fear and insecurity.

He urged support for the Armed Forces and called on the media to provide extensive coverage of their successes and gains.

Transportation Initiatives

To alleviate the impact of high transportation costs during the festive season, the Minister announced a 50% transportation rebate for five million commuters. Additionally, all train services will be free for Nigerians traveling from December 21, 2023, to January 4, 2024. Participating road transport companies include GIG (God is Good), Chisco Transport, Young Shall Grow, God Bless Ezenwata, and Area Motor.

Values Charter

The Minister revealed plans by the Federal Ministry of Information and National Orientation to unveil a groundbreaking citizen’s charter in the coming year. This charter aims to define and uphold core values that unite Nigerians while respecting the nation’s socio-cultural diversities. A committee of experts is working on the charter, with President Tinubu set to unveil it early next year.

Message of Hope

Idris conveyed a message of hope and optimism to citizens, emphasizing that in 2024, they can anticipate the fruits of ongoing efforts. He reassured that the reforms are deliberate steps toward building a stronger and more prosperous Nigeria, acknowledging that positive transformation takes time and commitment.

Quest :Emmanuel kelvin

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