Economy
Peter Obi Reacts As FG Says Tinubu’s Foreign Trips To Attract FDI Not Enough
Peter Obi Reacts As FG Says Tinubu’s Foreign Trips To Attract FDI Not Enough
Peter Obi reacts as FG says Tinubu’s foreign trips to attract FDI not enough. President Bola Tinubu is not flying around the world enough to attract foreign direct investment to Nigeria. He should go on more foreign trips, says foreign minister Yusuf Tuggar.
Nigerians have urged Mr Tinubu to discontinue globetrotting at the expense of the vulnerable public, urging the president to cut costs and prioritise insecurity and widespread hunger plaguing his compatriots.
However, Mr Tuggar said, “I don’t think that is a fair assessment. In fact, if you ask me, we are not travelling enough. We should do more. How much does travelling cost compared to the benefits?”
The foreign affairs minister stated this in an interview aired Sunday on Channels TV.
“The administration is new. The president is still new. He came into office in 2023. So, in global terms, he is still new,” Mr Tuggar explained. “He needs to interact with his fellow colleagues and heads of state to be able to establish relationships.”
The minister pointed out that Mr Tinubu’s foreign trips are already yielding positive results, citing some investment opportunities secured by the president.
The minister further accused Nigerians of judging the Tinubu administration “unfairly”, insisting the country stands to benefit from the president’s trips.
Mr Tinubu’s nemesis, former Governor Peter Obi, disagreed with the president’s need for frequent foreign trips.
Though I have never—and will not—compare the United States of America, with its over $28 trillion GDP, to our country, Nigeria, with a GDP of about $250 billion, less than 1% of the USA GDP, I want to simply observe, and note where investment flows and why: to places with an inevitable, favourable environment,” Mr Obi, who ran for president against Mr Tinubu in the last election said Monday in a statement on X.
The Labour Party politician added, “A typical example, the $1.1 trillion investment inflow into the USA this month, was because of desirable environments and intangible assets. This was achieved without the President jetting around the world to attract such investments.”
The former Anambra governor insisted that “with the right leadership, prioritising intangible assets, security, rule of law and resources allocated to productive sectors appropriately, that will unleash a productive society and allow entrepreneurship to thrive.”
This, in turn, according to Mr Obi, will attract investments “comparable to those in other developing nations with large populations, just like ours.”
“For example, Indonesia, with a similar population of around 265 million—just 10-15% more than Nigeria’s 230 million—has invested in critical areas like healthcare, education, and poverty alleviation. This focus has enabled them to achieve significant development and attract foreign investments.
“Countries like Indonesia, with a nominal GDP of approximately $165 billion in the year 2000, now have a GDP of about $1.39 trillion in the year 2024—an increase of over 8 times.
Countries like India, with a nominal GDP of approximately $476 billion in the year 2000, now have a GDP of about $3.73 trillion in the year 2024—an increase of nearly eight times,” said Mr Obi.
He also cited Vietnam, with a nominal GDP of “approximately $31 billion” in 2000, as now having “a GDP of about $506 billion” in 2024, an increase of over 16 times.
“Our country Nigeria, with a nominal GDP of approximately $70 billion in the year 2000, now has a GDP of about $210 billion in the year 2024—an increase of over three times.
Peter Obi
“What we require at this stage is to learn from these comparable countries what they have done to achieve such growth and religiously apply those strategies. Indonesia now attracting about 10 times the foreign direct investment than we do.
“This is the kind of economic shift we should aim for by replicating the strategies of nations that have succeeded in similar circumstances,” the politician stated.
Economy
ADC Is Nigeria’s Only Reliable Political Party, Others Brought Insecurity, Hunger, Says Atiku
ADC Is Nigeria’s Only Reliable Political Party, Others Brought Insecurity, Hunger, Says Atiku
ADC is Nigeria’s only reliable political party, others brought insecurity, hunger, says Atiku. Former Vice-President Atiku Abubukar says the African Democratic Congress (ADC) is the only reliable political party in the country, noting that others have brought insecurity, hunger, poverty and unemployment.
Speaking in Jalingo, the capital of Taraba state, during the official opening of the ADC state secretariat, Abubakar said the party is ready for a 2027 victory but urged Nigerians to unite to rescue the nation.
He also asked Taraba residents to take part in the ongoing continuous voter registration exercise, adding that their participation is crucial to reversing Nigeria’s worsening hardship.
“I am in Taraba to inaugurate our new party office of the ADC, and I want you to hold the party with integrity,” Channels Television quoted Atiku as saying.
“Do not allow anybody to deceive you with any other party, because we have tasted other political parties, and they brought nothing but insecurity, hunger, poverty and unemployment. “The youths and women should know that we are doing this for them to have a better future, and I am holding on to their promise. “ADC will win Taraba state and win Nigeria as the only reliable political party.”
ADC Is Nigeria’s Only Reliable Political Party
Abubakar, who formally joined the ADC on Monday—17 months before the 2027 general election—said his experience across political platforms convinced him that the All Progressives Congress (APC), the Peoples Democratic Party (PDP) and other parties lack the capacity to rescue the country.
He resigned from the PDP on July 16, citing “irreconcilable differences” within the opposition party as his reason for leaving.
Akwa Ibom Governor Pledges Commitment To Tourism, Blue Economy Development
Akwa Ibom governor pledges commitment to tourism, blue economy development… commends Editi Effiong for projecting State’s tourism potentials
As part of his effort to encourage tourism and enhance the State’s blue economy, Akwa Ibom State Governor, Pastor Umo Eno, has reiterated his administration’s commitment to encourage and reward young professionals who are willing to collaborate with his administration in promoting the positive image of the State through the ARISE Agenda.
The Governor made this known while fielding questions from Government House correspondents shortly after embarking on inspection of a locale of a movie, “The Black Book 2” (Old Scores), at Ishiet Beach/Market in Uruan Local Government Area.
He commended the movie Producer and Director, Mr. Editi Effiong, for his talent, vision, inspiration, and creative ability to project the tourism potentials and boost the economy of the State.
Governor Eno charged young Akwa Ibomites to shun divisive tendencies, be inspired, and emulate the creative effort of successful Akwa Ibom sons and daughters by joining hands to develop the tourism and blue economy of the State.
“The impression is amazing, seeing that we have one of our own trying to pull the world down here.
“I would love to thank and encourage him, and to let our young people see that Akwa Ibom has what it takes to drag the world’s attention.
“It depends on what you see. Someone can see this place and write one story about a swamp that has been abandoned and make all the noise. Another person sees this place and makes a great movie out of it that will market this place to the world and is able to attract the attention because of the work he has done here,” he said.
The State Chief Executive pledged his encouragement, support, and collaboration with Editi and other young Akwa Ibomites to enable them rise to the zenith of their calling.
“We are going to work with him. Editi is a young man I have known very well. This is one thing I say to our people in the diaspora, let’s partner. Come back home, whatever you see out there, bring it back here, and let’s work together.
“I think that is the story, and I am really impressed. If you know the number of people that have visited this State in the course of this film, the talents, and the caliber of artists that have been here, then this young man deserves an award and our support,” he added.
Ibom Deep SeaPort
On his part, the movie Producer and Director, Effiong, appreciated Governor Eno for his visionary leadership and passion for tourism development.
He expressed gratitude to the Governor for creating a hospitable and tourism friendly ecosystem to enhance talent exploration through the provision of good road network and quality modern facilities which distinguished the State as one of the most treasured locations in the country.
EFCC Releases Ex-AGF Malami After Hours Of Interrogation
EFCC releases ex-AGF Malami after hours of interrogation. He said he would return for further questioning.
The Economic and Financial Crimes Commission (EFCC) has released the former attorney general of the federation and minister of justice, Abubakar Malami, after hours of interrogation by the anti-graft team.
Mr Malami confirmed his release in his X account on Saturday. The former minister said that he had been released and scheduled for another meeting with investigators.
He said that the reality behind the “fabricated allegations” levelled against him would become clearer with time.
“In line with my undertaking to keep Nigerians updated on my invitation by EFCC, I give glory to Allah for his divine intervention. “The engagement was successful and I am eventually released while on an appointment for further engagement as the truth relating to the fabricated allegations against me continues to unfold.”
EFCC Releases Ex-AGF Malami After Hours Of Interrogation
The EFCC had summoned Mr Malami through a letter dated November 24, and signed by Sunday Ofen-Imu on behalf of its chairman, Ola Olukoyede.
The EFCC did not disclose the specific allegations for which Mr Malami was invited.
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