How about the National Assembly sets itself the task of resurrecting the Nigerian economy by passing this Nigerian Foreign Direct Investment Bill 2025 which sets compulsory targets to be met

Ayo Akinfe

[1] Food processing - $20bn

[2] Railways - $15bn

[3] Power generation - $10bn

[4] Automobile assembly plants - $10bn

[5] Steel production - $5bn

[6] Solid mineral processing plants - $5bn

[7] Pharmaceuticals - $5bn

[8] Leather processing - $5bn

[9] Green energy - $5bn

[10] Cosmetics and beauty products - $5bn

If we can attract $85bn in foreign direct investment (FDI) in 2025 and then get domestic industrialists to invest a further $15bn in the economy, we should be fine. As things stand today, we are facing a crisis because Chinese overseas investment is slowing down and the Nigerian state no longer has the cash to take out stakes in commercial ventures.

Something simply has to give or Nigeria will collapse beneath our feet. President Tinubu has to attract about $85bn worth of investment if he wants to take 90m people out of poverty and end our designation as the poverty capital of the world.

By my calculations, about 30m sustainable and remunerative new jobs must be created to end the current scourge of terrorism, kidnapping, armed robbery, banditry, etc. I would like to see the masterplan.

As things stand, Nigeria is attracting less than $2bn a year in FDI., with 2021 being out best year when we attracted $3.3bn. This is a recipe for disaster and something drastic needs to be done to address the matter.

ayoakinfe@gmail.com