The Presidency has revealed that Nigeria attracted over $50 billion in Foreign Direct Investments (FDIs) between May 2023 and January 2025, a major outcome of President Bola Ahmed Tinubu’s extensive foreign engagements and strategic economic diplomacy.
This was disclosed in a comprehensive policy review authored by Ambassador Sola Enikanolaiye, Senior Special Assistant to the President on Foreign Affairs and International Relations.
The review highlighted that President Tinubu’s international visits and sustained diplomatic outreach were carefully planned and have yielded tangible economic and strategic dividends.
“Contrary to the impression that these trips were mere jamborees, they are in fact the result of rigorous planning, strategic engagements, and coordinated follow-up efforts by the relevant Ministries, Departments and Agencies. As at January 2025, Nigeria has received over $50 billion in FDIs from Mr. President’s international engagements,” Enikanolaiye stated.
Breakdowns of the investments listed include $14 billion in commitments secured during the G20 Summit in India, $10 billion from ExxonMobil, $8 billion from Indorama, $3 billion each from Jindal Steel and Shell, $1 billion from Coca-Cola, $3.5 billion from Arise, and $9.2 billion (in euros) from APPL.
Other inflows include $600 million from Maersk and over $350 million in combined investments from Dutch firms.
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“These inflows are not only a reflection of the success of President Tinubu’s economic reforms but also a testament to the effectiveness of Nigeria’s foreign policy posture under his leadership,” Enikanolaiye added.
Since assuming office on May 29, 2023, President Tinubu has undertaken 36 international trips to key countries across Africa, Europe, the Americas, the Middle East, and Asia.
These include visits to the United States, United Kingdom, France, Germany, China, India, Saudi Arabia, Qatar, Brazil, South Africa, and The Vatican, among others.
According to the Presidency, each foreign trip is preceded by inter-ministerial meetings chaired by the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila, where the objectives of each visit are mapped out and responsibilities assigned.
Delegates are required to submit reports and action plans upon their return, ensuring that commitments made are followed through.
“Mr. President’s consistent message to world leaders has been simple and clear — Nigeria is open and ready for business,” the statement noted.
At each destination, President Tinubu personally leads briefing sessions with his ministers and senior officials, demanding clarity on engagement strategies and expected outcomes.
“This is not just diplomacy by symbolism. It is diplomacy anchored on preparation, leadership, and accountability,” Enikanolaiye said.
Beyond financial investments, President Tinubu’s diplomacy has also deepened strategic relations, particularly with China, where Nigeria’s partnership was elevated to a Comprehensive Strategic Partnership.
This includes landmark cooperation in infrastructure, manufacturing, and financial systems, such as currency swap arrangements.
Additionally, President Tinubu has used global platforms to amplify Nigeria’s environmental and climate priorities.
From rising sea levels to the shrinking of Lake Chad, Nigeria’s delegation has consistently pushed for climate finance and global cooperation to address existential challenges in the Sahel and West Africa.
Another major milestone of the Tinubu administration, Enikanolaiye revealed, is the successful extension of Nigeria’s continental shelf by 16,300 square kilometers through the United Nations Convention on the Law of the Sea.
This development expands Nigeria’s access to valuable maritime resources and enhances national security.
To ensure continuity and implementation, President Tinubu has also established the Office of the Special Adviser on Policy and Coordination, alongside the Central Delivery Coordination Unit led by Hajia Hadiza Bala Usman, to track and enforce execution of agreements reached during foreign visits.
On the consular front, the Tinubu administration has taken decisive steps to protect Nigerians abroad and streamline consular services.
Under the guidance of Foreign Minister Yusuf Tuggar, and in collaboration with the Nigerians in Diaspora Commission (NiDCOM) headed by Hon. Abike Dabiri-Erewa, thousands of distressed Nigerians have been evacuated from conflict zones in Libya, Ethiopia, Gaza, and the UAE.
In a notable diplomatic success, three Nigerian women detained in Saudi Arabia on drug charges were discharged and acquitted in January 2025 following sustained intervention by the Ministry of Foreign Affairs.
The administration has also made significant progress in addressing the persistent delays in passport issuance for Nigerians abroad.
“The Ministries of Foreign Affairs and Interior, working under the President’s directive, have resolved what was a major concern for the diaspora community,” Enikanolaiye said.
President Tinubu has also advanced Nigeria’s soft power through culture and heritage.
The administration has successfully negotiated the return of stolen Benin Bronzes from Germany, with additional restitution efforts ongoing.
With the creation of the Ministry of Art, Culture and the Creative Economy, Nigeria’s vibrant music, film, culinary, fashion, and literary sectors are now central to the country’s global cultural diplomacy.
President Tinubu has also demonstrated commitment to religious tolerance and global inclusivity. Following the death of Pope Francis, he dispatched a high-level delegation to the Vatican and personally attended the inauguration of Pope Leo XIV on May 18, 2025.
This, Enikanolaiye emphasized, reinforces the administration’s commitment to interfaith dialogue and peaceful coexistence.
The Presidency is also addressing concerns raised by the U.S. Congress regarding religious freedom in Nigeria, and is proactively working to prevent the re-designation of Nigeria as a Country of Particular Concern.
Ambassador Enikanolaiye acknowledged that while the diplomatic achievements have been remarkable, the focus now must be on ensuring that their impact is felt domestically.
“What needs to happen more is full implementation of the positive outcomes of these foreign engagements in a manner that contributes directly to national development and improves the lives of Nigerians,” he concluded.