You Need To Attract Foreign Investors Not Chasing After Them – Peter Obi Tells Tinubu

Mr Peter Obi, the 2023 presidential candidate of the Labour Party, LP,  has called on President Bola Ahmed Tinubu to attract foreign investors and not chase after them.

Tinubu, in a recent interview with Nation after receiving the Man-of-the-Year award, said the country is engaging with the global market- both foreign and domestic investors.

Tinubu argued that Foreign Direct Investment (FDI) is not ‘Chicken Change’ but a long-term financial commitment from serious enterprises and investors.

He noted that the country’s efforts to woo foreign direct investors were yielding fruit, adding they had secured a $500 million deal with Germany to fund renewable energy projects, particularly in rural Nigeria.

He said, “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.”

However, during an interview on X-space with ParrelFact, Peter Obi countered Tinubu, saying he should attract foreign investors rather than chase them.

According to the former Governor of Anambra State, nobody goes around searching for foreign investors.

He said, “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.”