President Bola Tinubu projects that Nigeria will attract close to $20 billion in foreign direct investments in 2026 due to transparency, efficiency and openness. Speaking on Thursday during the Africa CEO Forum in Kigali, Rwanda, the president said he has put in place incentives necessary to attract investments and removed bottlenecks discouraging investors.
Tinubu’s projection comes two months after he approved a production tax credit to fast-track Shell’s $20 billion final investment decision in a deepwater project, and follows previous approvals of oil field development plans worth about $20 billion between January and October last year.
Also Read: Peter Obi Reaffirms One-Term Presidency Pledge
Speaking further, Tinubu advised African nations to put their money where their mouth is and collaborate with each other for effective utilisation of the continent’s resources, noting that the African trade agreement should not be left on the drawing board but should be activated properly for regional collaboration. He said he believes in Africa First because he has started Nigeria First, adding that Nigeria does not want scavengers or extractors but wants people to add value.
Leave feedback about this
You must be logged in to post a comment.