Business News

Tinubu administration has secured $20 billion investments for Nigeria – Shettima

Nigeria’s Vice President Kashim Shettima has announced that President Bola Tinubu’s administration has secured investments valued at over $20 billion for the country.

Shettima highlighted these achievements during his speech at the 2024 Vanguard Economic Discourse, held at the Civic Centre in Victoria Island, Lagos, on Thursday.

This year’s economic discourse provided a platform for public and private sector leaders to discuss and promote economic development across various sectors was themed “Reforms in the Era of Global Economic Uncertainties: Whither Nigeria?”

Represented by his Special Adviser on Economic Affairs, Tope Fasua, Vice President Shettima detailed several key potential investments secured under President Tinubu’s administration. These include $14 billion from India and $250 million from the Netherlands.

Additionally, he mentioned a significant investment of $500 million for lithium development in Nasarawa State and another $500 million from Germany for renewable energy projects.

He also noted the progress of the Siemens power sector projects, which are expected to significantly enhance Nigeria’s energy sufficiency shortly.

He said the investments reflect the Tinubu administration’s ongoing efforts to attract foreign investment and bolster economic growth despite global economic uncertainties.

Vice President Kashim Shettima emphasized the government’s ongoing commitment to enhancing Nigeria’s economic growth by leveraging the African Continental Free Trade Agreement (AfCFTA).

He noted the government’s commitment to leveraging the African Continental Free Trade Agreement to benefit Nigerian exporters.

He highlighted the administration’s dedication to investing in the nation’s most valuable resource—its people—through various development programs.

Shettima noted the government’s strategy to add value to Nigeria’s natural resources, aligning with President Tinubu’s vision to expand capacity in critical economic sectors such as manufacturing, technology, and industry.

He noted the administration’s commitment to fostering sustainable development and ensuring economic resilience despite global uncertainties.