The presidential candidate of the Labour Party, Peter Obi, has said that it is important for Nigeria to focus on attracting foreign investors rather than actively pursuing them, News About Nigeria reports.
Obi said this on Sunday during the “ParallelFact” X-space live chat, where he also shared his thoughts on economic ideas and investment strategies.
In his statement, Obi likened foreign investors to bees, saying, “Nobody goes around searching for foreign investors. Foreign investors are like bees; when you keep the honey, they will boom towards there. We need to attract foreign investors and not chase after them.”
Meanwhile, in an interview with The Nation on Sunday, President Tinubu stated that the nation is interacting with both domestic and foreign investors in the global market.
Tinubu made this statement in response to his recent travels abroad, which were intended to draw foreign direct investment (FDI) to Nigeria.
“FDI is not ‘chicken change’. FDI is a substantial, long-term financial commitment made by serious enterprises and investors. Right now, Nigeria is re-engaging with the global market – both foreign and domestic investors,” President Tinubu said.
According to Tinubu, the nation’s attempts to attract foreign direct investment were paying off.
Tinubu mentioned that the country has secured a deal worth $500 million with Germany to finance renewable energy projects and $116 million with France for the I-DICE programme, which aims to create jobs and start-ups.
“We are telling the story of our significant and far-reaching reforms and rebuilding confidence in Nigeria as an accessible and safe investment. We are clearly communicating that ‘Nigeria is open for business’ and that the direction of travel is clear and fully committed,” President Tinubu added.
