'Tinubu's diplomatic drive secures $50b FDIs '
Nigeria attracted over $50 billion in Foreign Direct Investments (FDIs) between May 2023 and January 2025, the Presidency said yesterday.
It described the investment as a major outcome of President Bola Ahmed Tinubu’s extensive foreign engagements and strategic economic diplomacy.
This was made known in report by Senior Special Assistant to the President on Foreign Affairs and International Relations Ambassador Sola Enikanolaiye.
The review highlighted that President Tinubu’s international visits and sustained diplomatic outreach were carefully planned and have yielded tangible economic and strategic dividends.
“Contrary to the impression that these trips were mere jamborees, they are in fact the result of rigorous planning, strategic engagements, and coordinated follow-up efforts by the relevant Ministries, Departments and Agencies. As at January 2025, Nigeria has received over $50 billion in FDIs from Mr. President’s international engagements”, Enikanolaiye stated.
Breakdowns of the investments listed include $14 billion in commitments secured during the G20 Summit in India, $10 billion from ExxonMobil, $8 billion from Indorama, $3 billion each from Jindal Steel and Shell, $1 billion from Coca-Cola, $3.5 billion from Arise, and $9.2 billion (in euros) from APPL.
Other inflows include $600 million from Maersk and over $350 million in combined investments from Dutch firms.
“These inflows are not only a reflection of the success of President Tinubu’s economic reforms but also a testament to the effectiveness of Nigeria’s foreign policy posture under his leadership,” Enikanolaiye added.
Since assuming office on May 29, 2023, President Tinubu has undertaken 36 international trips to key countries across Africa, Europe, the Americas, the Middle East, and Asia.
These include visits to the United States, United Kingdom, France, Germany, China, India, Saudi Arabia, Qatar, Brazil, South Africa, and The Vatican, among others.
According to the Presidency, each foreign trip is preceded by inter-ministerial meetings chaired by the Chief of Staff to the President, Femi Gbajabiamila, where the objectives of each visit are mapped out and responsibilities assigned.
Delegates are required to submit reports and action plans upon their return, ensuring that commitments made are followed through.
“Mr. President’s consistent message to world leaders has been simple and clear — Nigeria is open and ready for business,” the statement noted.
At each destination, President Tinubu personally leads briefing sessions with his ministers and senior officials, demanding clarity on engagement strategies and expected outcomes.
“This is not just diplomacy by symbolism. It is diplomacy anchored on preparation, leadership, and accountability,” Enikanolaiye said.
Beyond financial investments, President Tinubu’s diplomacy has also deepened strategic relations, particularly with China.
This includes landmark cooperation in infrastructure, manufacturing, and financial systems, such as currency swap arrangements.
Additionally, President Tinubu has used global platforms to amplify Nigeria’s environmental and climate priorities.
From rising sea levels to the shrinking of Lake Chad, Nigeria’s delegation has consistently pushed for climate finance and global cooperation to address existential challenges in the Sahel and West Africa.
