Tinubu’s $30bn foreign direct investments claim not exaggerated, Presidency insists

Oct. 5, 2024 - Tribune Online

Faced with criticism, the Presidency on Thursday insisted that the foreign direct investments worth $30 billion announced by President Bola Tinubu are not an exaggeration but a reality. In his October 1st Independence Day broadcast, President Tinubu announced that his administration had attracted over $30 billion in foreign direct investments (FDI) within its first 16 months.

This announcement, however, sparked intense debate among social media users and television commentators, with critics rushing to fact-check the president’s claim. Coca-Cola has revived its paused $1 billion investment plan, while APPL is developing a €9.

2 billion hydrogen project in Akwa Ibom State, projected to create 25,000 jobs. They also point out that previous governments have announced large investment pledges that never fully materialized.

..