President Tinubu’s international travels have yielded over $15 billion in FDI pledges – Mohammed Idris

The Federal Minister of Information and National Orientation, Mohammed Idris, has said that President Bola Tinubu’s international shuttles have yielded over $15 billion in Foreign Direct Investment (FDI) in various sectors of the economy.

Idris made this known during a World Press Conference held at the National Press Centre, Radio House, Abuja, on Thursday.

Nairametrics gathered this information from a press release by Suleiman Haruna, the Deputy Director of Press for the Federal Ministry of Information and National Orientation, which can be seen on the official X handle of the ministry.

Idris explained that President Tinubu’s engagements have highlighted Nigeria’s potential and shown that the nation is committed to being a responsible and collaborative player in the global community.

“We have seen over $15 billion in Foreign Direct Investment (FDI) pledges in various sectors such as energy, steel, defence, and the automotive,” Idris stated.

The minister further disclosed that some of the investors that have made pledges are already taking action, citing an example with one of Japan’s largest pharmaceutical companies that has begun the construction of a multi-million-dollar manufacturing plant in Ogun State.

More Insights

Among other subjects the minister discussed at the World Press Conference, the Information Minister pointed out that President Tinubu’s bold economic policies which may present some challenges at the moment, are intended to reposition the economy for rapid growth.

Idris cited fuel subsidy removal as one of those difficult decisions the President made in the interest of the greater good of Nigerians.

“It aligns with our vision for a Nigeria that thrives on efficiency, transparency, and responsible governance. Fuel subsidy removal is a crucial step towards a more sustainable economic future, and we are working tirelessly to ensure that all citizens feel the benefits of this decision,” the minister said.

Also, the Minister noted that the Federal Government’s emergency declaration on food security showed the current administration’s commitment to tackling the issue of food scarcity.

According to him, the issue of food scarcity poses a threat to the well-being of Nigerians and has hindered the growth of the agricultural sector, thereby endangering the nation’s food supply.

Mohammed Idris further disclosed that President Tinubu is committed to tackling insecurity in the country, adding that comprehensive strategies are being implemented to address the root causes and ensure a safer, more secure Nigeria.

“The President understands the multifaceted nature of the challenges, and his commitment extends beyond military interventions. It encompasses even a non-kinetic approach. The goal is to quell immediate threats and create an environment where citizens can live without fear and insecurity,” he said.