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Traveling Alone Won’t Attract Investment-Peter Obi To Tinubu

Published

Monday, January 27, 2025 at 05:37 PM

Written by Love Patience Tarimoboere

Traveling Alone Won’t Attract Investment-Peter Obi To Tinubu

Peter Obi, the former Labour Party presidential candidate, has urged President Bola Tinubu’s administration to prioritize creating an environment conducive to business growth, stating that frequent foreign travels alone cannot secure the desired level of Foreign Direct Investment (FDI).

Obi’s remarks follow President Tinubu’s numerous international trips since assuming office, which have taken him to Senegal, the United Arab Emirates (UAE), France, China, Brazil, Saudi Arabia, and other countries.

The Presidency has justified these trips as efforts to attract foreign investors. However, Obi emphasized that sustainable investments are driven by sound policies, leadership, and favorable business environments, not by extensive travel.

In a statement issued on Monday 27th of January 2025, Obi drew comparisons to global economic successes. He pointed out that investment naturally gravitates toward regions offering stability, infrastructure, and clear policies, much like bees are drawn to honey. He referenced the recent $1.1 trillion investment inflow into the United States as an example of how a conducive environment can attract substantial investments without a president having to travel extensively.

While acknowledging Nigeria’s smaller GDP of $250 billion compared to the U.S.’s $28 trillion, Obi argued that Nigeria could learn from countries like Indonesia, Vietnam, and India. These nations prioritized critical sectors such as healthcare, education, and poverty alleviation, achieving remarkable economic growth.

He highlighted Indonesia’s transformation, noting its GDP increased from $165 billion in 2000 to $1.39 trillion in 2024, a growth factor of over eight times. Similarly, India expanded from $476 billion in 2000 to $3.73 trillion in 2024, while Vietnam’s GDP grew sixteenfold, from $31 billion to $506 billion during the same period. Obi compared these figures to Nigeria’s GDP, which grew from $70 billion in 2000 to $210 billion in 2024, merely tripling over two decades.

According to Obi, Nigeria must emulate these nations by investing heavily in security, the rule of law, and productive sectors.

“With the right leadership and prioritization of intangible assets, we can create a productive society that fosters entrepreneurship and attracts investments comparable to other developing nations with large populations,” he advised.

Obi also pointed out that Indonesia, which has a population size close to Nigeria’s 230 million, now attracts ten times the FDI that Nigeria does. He urged the government to carefully study these examples and apply similar strategies to drive economic growth and development.

“The kind of economic shift we need requires actionable strategies like those implemented by nations that have succeeded in similar circumstances. It is time we learn and commit to achieving comparable progress,” Obi concluded.

Edited By: Chinedu Eze

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Traveling Alone Won’t Attract Investment-Peter Obi To Tinubu

Peter Obi, the former Labour Party presidential candidate, has urged President Bola Tinubu’s administration to prioritize creating an environment conducive to business growth, stating that frequent foreign travels alone cannot secure the desired level of Foreign Direct Investment (FDI).

Obi’s remarks follow President Tinubu’s numerous international trips since assuming office, which have taken him to Senegal, the United Arab Emirates (UAE), France, China, Brazil, Saudi Arabia, and other countries.

The Presidency has justified these trips as efforts to attract foreign investors. However, Obi emphasized that sustainable investments are driven by sound policies, leadership, and favorable business environments, not by extensive travel.

According to Obi, Nigeria must emulate these nations by investing heavily in security, the rule of law, and productive sectors.

“With the right leadership and prioritization of intangible assets, we can create a productive society that fosters entrepreneurship and attracts investments comparable to other developing nations with large populations,” he advised.

Obi also pointed out that Indonesia, which has a population size close to Nigeria’s 230 million, now attracts ten times the FDI that Nigeria does. He urged the government to carefully study these examples and apply similar strategies to drive economic growth and development.

“The kind of economic shift we need requires actionable strategies like those implemented by nations that have succeeded in similar circumstances. It is time we learn and commit to achieving comparable progress,” Obi concluded.

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