The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has clarified that the $50 billion often cited as investment attracted to Nigeria represents announcements rather than actual cash in hand. Speaking on Arise Television, she explained that the Federal Government is still working to turn the commitments into factories, businesses and jobs. Oduwole noted that as of January 2025, President Bola Tinubu's international visits and investment promotion efforts had yielded about $50 billion in investment announcements. She added that the announcements came from more than 80 memoranda of understanding signed by ministries, departments and agencies with partners in different countries.
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