ENUGU, Nigeria (VOICE OF NAIJA)- Presidential candidate Peter Obi of the Labour Party stressed the importance of attracting foreign investors rather than actively pursuing them.
Speaking during an X-space live chat titled ‘ParallelFact,’ Obi likened foreign investors to bees, stating that creating favorable conditions would naturally draw them in.
Obi’s remarks followed President Bola Tinubu’s recent foreign trips aimed at securing foreign direct investment (FDI) for Nigeria.
Tinubu, in his interview with The Nation on Sunday said the country is engaging with the global market- both foreign and domestic investors.
Tinubu highlighted the substantial and long-term nature of FDI commitments, emphasizing Nigeria’s engagement with both foreign and domestic investors.
President Tinubu showcased successful outcomes, citing a $500 million deal with Germany for renewable energy projects and a $116 million French investment in the I-DICE program.
He highlighted efforts at various international events, including COP28 in Dubai, the G20 Summit in India, and the UN General Assembly in New York, to boost FDI in Nigeria.
The President conveyed optimism about the nation’s progress, stating, “We are clearly communicating that ‘Nigeria is open for business’ and that the direction of travel is clear and fully committed.
“FDI is not ‘chicken change’. FDI is substantial, long-term financial commitments made by serious enterprises and investors. Right now, Nigeria is re-engaging with the global market – both foreign and domestic investors.
“We are telling the story of our significant and far-reaching reforms and rebuilding confidence in Nigeria as an accessible and safe investment.
“We’ve secured a $500 million deal with Germany to fund renewable energy projects, particularly in rural Nigeria.”
“Our focused efforts to attract European FDI are yielding fruit, notably with the $116 million French investment in the I-DICE program, aimed at creating 65,000 start-ups and 150,000 jobs, particularly empowering women,” Tinubu added.
Tinubu concluded by affirming the positive impact of focused efforts, with notable results in attracting foreign investments.
It would be recalled that President Tinubu was at COP28 in Dubai, which ended last week.
The President, in September, also attended the G20 Summit in India, the UN General Assembly in New York, the United States of America and the G20 compact with Africa Conference in Berlin, Germany, and others to “sustain his momentum in advancing the cause of FDI in Nigeria”.