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Tinubu's policies attracted $30bn foreign investments - Minister

The Minister of Information said President Bola Tinubu's leadership has attracted $30 billion in Foreign Direct Investment (FDI) commitments across key sectors of the economy since the start of his administration.

Bola Tinubu [Facebook]

During the Advertisers Association of Nigeria (ADVAN) Dialogue in Lagos, he commended Tinubu’s policies prioritising economic advancement and innovation.

Dr. Olalekan Fadolapo, representing Idris, emphasised the importance of collaboration between the government and ADVAN to establish industry standards and uphold ethical practices.

“From the public sector, we must create a conducive environment for both local and multinational companies to thrive and provide platforms for innovation, investment, and job creation within the advertising industry.

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“For almost one year since he assumed office, President Bola Ahmed Tinubu (GCFR) has remained resolute in his commitment to implementing necessary reforms that will propel our economy to greatness.

“Some of the daunting challenges that we witnessed in the past, especially the repatriation of profits by multinationals and backlog in foreign exchange payments have been tackled securely through the implementation of creative policies by the government,” he said.

Idris highlighted the significant increase in investor confidence attributed to the president’s leadership, which has resulted in the attraction of $30 billion in Foreign Direct Investment (FDI) commitments across key sectors of the economy since the start of his administration.

These investments, spanning manufacturing, telecoms, healthcare, oil and gas, are already materialising and demonstrating tangible progress.

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Domestically, the Nigerian Bottling Company plans a $1 billion investment over five years, Unilever is diversifying with new product launches, and Seven-Up Bottling Company is focusing on enhancing logistics and recycling.

Additionally, major players like Dangote Sugar Refinery, BUA Foods, and Golden Sugar Limited are reaffirming their commitments to the Backward Integration Programmes.

Notably, GB Foods’ inauguration of Africa’s largest tomato processing facility in Kebbi State, valued at ₦20 billion, signifies a substantial milestone.

The Minister emphasised collaboration between the public and private sectors, recognising the advertising industry’s pivotal role in shaping perceptions and driving economic growth.

In light of this development, the Minister said his Ministry is working assiduously with the private sector to implement the first scientifically based Audience Measurement System in the Advertising Industry, stressing that it is a crucial step forward in shaping the future of our media and creative industry.

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