The Presidency has pushed back against criticism regarding President Bola Tinubu’s claim of attracting $30 billion in foreign direct investments (FDI).
In a statement, the Senior Special Assistant on Media and Publicity, Temitope Ajayi, clarified that these investments are based on solid commitments from both local and international investors.
Ajayi explained that while not all investments have translated into immediate cash inflows, the groundwork is being laid such as ExxonMobil’s $10 billion investment in oil sector, Coca-Cola’s $1 billion investment plan and Airtel’s $500 million data center in Lagos.
Ajayi insisted that the country is poised to benefit from these long-term investment plans despite critics suggesting that such commitments do not always materialise quickly.
Read full Statement here:
