‘Nobody Goes Around Searching For Foreign Investors’ – Peter Obi Tackles President Tinubu

Former Presidential Candidate of the Labour Party (LP), Peter Obi, has criticized President Bola Ahmed Tinubu over his frequent foreign trips, stating that Nigeria should attract foreign investors rather than chase after them.

VerseNews reports that the former Anambra Governor made this known on Sunday during an X-space, tagged ‘ParrellelFact’.

Obi emphasized the importance of creating an environment that naturally attracts investors, comparing them to bees that are drawn to honey.

“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,” he said.

Meanwhile, President Bola Ahmed Tinubu defended the trips, stating that the country is engaging with the global market to attract foreign and domestic investors.

He highlighted significant deals, such as a $500 million agreement with Germany for renewable energy projects and a $116 million French investment in start-ups.

“We’ve secured a $500 million deal with Germany to fund renewable energy projects, particularly in rural Nigeria”, he stated.

“Our focused efforts to attract European FDI are yielding fruit, notably with the $116 million French investment in the I-DICE program, aimed at creating 65,000 start-ups and 150,000 jobs, particularly empowering women”, President Tinubu added.

The President stressed that Foreign Direct Investment is not ‘Chicken Change’ but a long-term financial commitment from serious enterprises and investors.

“FDI is not ‘chicken change’. FDI is substantial, long-term financial commitments made by serious enterprises and investors. Right now, Nigeria is re-engaging with the global market – both foreign and domestic investors.

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”, he said.