Like his predecessors since 1999, the President is reported to be embarking on these trips in hot chase of Foreign Direct Investment (FDI) into various sectors of the resource rich Nigerian ecosystem.
In previous engagements, two Nigerian companies were reported to have signed Memoranda of Understanding with German counterparts in November 21, 2023 for gas supplies.
In one of such agreements, it was stated that a certain Nigerian company named Riverside LNG would collaborate with the German company Johannes Schuetze Energy Import AG to provide 850,000 tons of liquefied natural gas to Germany annually. The president’s office stated that gas exports would rise in the coming years, with the first delivery of gas anticipated in 2026.
Presidential Spokesperson, Ajuri Ngelale, in an earlier interview on Channel TV talked about how President Tinubu:
“… is personally conducting an open-door policy to investors from around the world, … to ensure that they have direct access to all of the regulators and government officials that will further enhance the environment in which foreign direct investments will be coming into the country,”
The President and his team are also seeking investments in other sectors such as electricity, rail transportation, agriculture and others.
Before President jets out to another oversea destination for what some term as an elusive chase for FDI, experts advise for greater introspection and more strategic outreach, seeing as such forays by previous administrations had remained a wild goose chase.
As one analyst put it, “investment money is a very discerning guest that goes only to where it is welcome.”
