President Bola Tinubu has boasted that reforms instituted by his administration has attracted more than $30 billion in foreign direct investments (FDI) in 2023.

Tinubu made this known on Tuesday while addressing the nation to commemorate the country’s 65th Independence Day.

In his address, Tinubu said the investment attracted was achieved due to the economic reforms his administration has implemented.

“Thanks to the reforms, our country attracted foreign direct investments worth more than $30 billion in the last year,” Tinubu said.

Speaking on the state of the economy, the president emphasised the importance of these reforms in reshaping Nigeria’s fiscal landscape and avoiding an uncertain future.

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“The economy is undergoing the necessary reforms and retooling to serve us better and more sustainably,” he said.

“If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences.”

He reiterated his administration’s commitment to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of regulatory processes.

Tinubu said this principle is steering divestment transactions in the upstream petroleum sector, with a focus on driving positive changes.

By: Babajide Okeowo

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