Nigeria: Tinubu's Govt Attracting Huge Investments to Nigeria - Foreign Affairs Minister

State House
Nigeria-Germany Partnership expands as President Bola Tinubu witnesses signing of $500M Renewable Energy Pact and Gas Export agreement.
21 November 2023
Vanguard (Lagos)

Minister of Foreign Affairs, Yusuf Tuggar said President Bola Tinubu's government is attracting huge investments to Nigeria.

Tuggar stated this in an interview on Channels TV's Politics Today on Tuesday.

The minister's comment comes on the heels of the G20 Compact with Africa (CWA) Conference President Tinubu is attending in Berlin, Germany.

He said, "Today there was a signing of a $500m agreement between Union Bank and a Germany group GWX for the financing of a green energy project.

"There was another agreement between a Nigerian group and a German group. You know Germany is in need of energy due to the shortage of energy supply since the Ukraine-Russian war began.

"These are very few of the things that have been happening. You have also looked at what is going on in other places with the Nigerian private sector because of the confidence that has been reinstilled in the private sector activities by the Tinubu administration.

"Within the last two weeks Aliko Dangote signed a $500m contract with an investment firm. BUA signed another $500m contract with IFC. Then you have the Nigerian Sovereign Investment Authority signed a $500m agreement with IFC.

"Within the last two weeks you can easily say $2 billion. Nigeria is witnessing huge investments under the Tinubu administration," he said.

Read the original article on Vanguard.

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