The vice president of the Federal Republic of Nigeria, Kashim Shettima, revealed that President Bola Tinubu’s administration has secured a $20 billion investment in Nigeria.
This achievement by the presidency was highlighted during his speech on Thursday at the 2024 Vanguard Economy Discourse, which was held at the civic centre in Victoria Island, Lagos.
It is of great importance to note that this year’s economic discourse, themed “Reforms in the Era of Global Economic Uncertainties: Whither Nigeria,” has provided a platform for public and private sector leaders to discuss and promote economic development in different sectors.
Vice President Shettima explains key investments made during President Bola Tinubu’s administration. These investments include $14 billion from India and $250 million from the Netherlands. He made this speech with the aid of his special adviser on economic affairs.
He also added other investments, which included the $500 million lithium development in Nasarawa State and the other $500 million from Germany for the renewable energy project.
“Mr President has secured more than $20 billion in potential investments for 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 for renewable energy,” Shettima said.
He also pinpointed on the progress of the Siemens power sector project, which will be one of those projects that will help stabilise Nigeria’s power supply.
The Vice president went on to say that all these investments reflect President Bola Tinubu’s administration’s efforts to attract foreign investment and enhance Nigeria’s economy.
He also emphasised the government’s intentions to enhance Nigeria’s economic growth by partnering with the African Continental Free Trade Agreement.
He continued that the government is committed to partnering with the African Continental Free Trade Agreement, which will benefit all Nigerian exporters.
He also spoke about President Bola Tinubu’s administration’s dedication to investing even more in the country’s major asset—its people—using various development mediums.
He also hinted at the government’s plan to increase Nigeria’s natural resources, which is in alignment with President Bola Tinubu’s vision to expand capacity in critical economic sectors.
“Government will continue to push for the country’s exporters to take advantage of the African continental free trade agreement. The administration will also continue to invest in the nation’s most important resource through several programmes in that regard.
“The government is also thinking about adding value to natural resources as Mr President has promised to develop more capacity in all areas of the economy such as manufacturing, technology, and industry, among others.,” he said.
“Please know that our promises stand. We will do everything within our power to deliver on these promises. We are steadfast in our goal of achieving a $1 trillion economy and in protecting our most vulnerable citizens. Once again, we appeal for your understanding, support, perseverance, and sacrifice for our great country, Nigeria,” Shettima said.
The Vice President also stated the administration’s commitment to grow sustainable development and ensure economic resilience.
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