Tinubu has secured $20bn in potential investments, Vice President Kashim Shettima announced at the 2024 Vanguard Economic Discourse held at the Civic Centre, Victoria Island, Lagos, on Thursday.
During his speech, Shettima detailed the significant achievements of President Bola Tinubu in attracting substantial investments to Nigeria.
The 2024 Vanguard Economic Discourse, a prominent annual event hosted by Vanguard Newspapers, provides a platform for public and private sector dialogue on economic development.
This year’s event, themed ‘Reforms In The Era of Global Economic Uncertainties: Whither Nigeria?’, brought together leaders and experts to discuss strategies for navigating economic challenges.
Shettima, represented by his Special Adviser on Economic Affairs, Tope Fasua, highlighted that Tinubu’s administration had successfully secured over $20 billion in potential investments.
These investments include $14 billion from India and $250 million from the Netherlands. Additionally, Shettima pointed to a $500 million investment for lithium development in Nasarawa state, which underscores Nigeria’s growing appeal in the global energy sector.
“Ladies and gentlemen, Mr. President has been able to secure more than $20 billion in potential investments into the country, including $14 billion from India, $250 million from the Netherlands, and commitments of $500 million for lithium development in Nasarawa state, as well as another $500 million from Germany and into renewables,” Shettima stated.
He also mentioned the progress of the Siemens power sector projects, which are expected to significantly enhance Nigeria’s energy sufficiency.
These projects are seen as a critical component of the country’s strategy to address its energy challenges and foster sustainable economic growth.
The involvement of the Vice President’s office, the National Economic Council, the Central Bank of Nigeria, and the Budget Office of the Federation reflects a coordinated effort to drive economic reforms and attract foreign investments.
The discourse emphasized the importance of such investments in stimulating economic growth and development amid global uncertainties.
Overall, Shettima’s address at the 2024 Vanguard Economic Discourse showcased the Tinubu administration’s commitment to economic reforms and its success in securing substantial foreign investments, positioning Nigeria for future growth and stability.
