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.

Tagged:
Copyright © 2023 Vanguard. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.