Tinubu’s foreign trips have secured $50bn investment commitments – Minister

President Tinubu’s foreign trips have secured $50.8 billion in proposed investments, according to the Minister for Industry, Trade and Investment, Jumoke Oduwole.

Oduwole made the disclosure on Tuesday during the ministerial briefing which took place in Abuja.

Citing statistics, she stated that Nigeria’s economy is in need of about $50 billion to be steady in terms of foreign exchange (FX).

Oduwole added that the federal government is now tasked with ensuring that the investments become a reality.

“As of December 2024, Mr President’s over 30 international trips have generated $50.8 billion in announcements.

“Where the ministry’s work comes in is tracking those announcements and making sure that it (sic) comes to fruition.

“For example, about two weeks ago, the Brazilian trip on the sidelines of G20, where the largest meat exporters in the world, meat producers in the world, announced that they would invest $2.5 billion in Nigeria.

“That’s the sort of work that the ministry does to make sure that if there’s an announcement of an investment or a trade relationship, that we make it happen.

“Aside tracking these investments, our role as federal ministry of industry trade and investment is to handle those businesses, to remove the regulatory and bureaucratic bottlenecks, to share information, the transparency and the efficiency of public service delivery, to support them in whatever incentives are possible for them, and to bring that money home,” the minister said.