"We Need To Attract Foreign Investors Not Chase After Them" – Peter Obi

The presidential candidate of the Labour Party, Peter Obi said Nigeria should attract foreign investors and not chase after them.

Obi stated this while speaking during an X-space live chat, tagged ‘ParrellelFact’ on Sunday.

His comment comes on the heels of President Bola Tinubu’s foreign trips to attract foreign direct investment (FDI) to the country in recent times.

Obi 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,” he said.

But, President Tinubu, in his interview with The Nation on Sunday said the country is engaging with the global market- both foreign and domestic investors.

According to the president, Foreign Direct Investment is not ‘Chicken Change’ but a long-term financial commitment from serious enterprises and investors.

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.

“WWe 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”, he said.

Tinubu noted that the country’s efforts to woo foreign direct investors were yielding fruit.

“We’ve secured a $500 million deal with Germany to fund renewable energy projects, particularly in rural Nigeria”, he stated.

“Our focused efforts to attract European FDI are yielding fruit, notably with the $116 million French investment in the I-DICE program, aimed at creating 65,000 start-ups and 150,000 jobs, particularly empowering women,” Tinubu added.

Recall that President Tinubu was at COP28 in Dubai, which ended last week.

The President, in September, also attended the G20 Summit in India, the UN General Assembly in New York, the United States of America and the G20 compact with Africa Conference in Berlin, Germany, and others to “sustain his momentum in advancing the cause of FDI in Nigeria”.

Posted: at 18-12-2023 08:43 AM (4 months ago) | Addicted Hero

This Peter Obi lack the requisite skill and technical know how to be President and everyday he speaks he keeps on displaying he is transparent ignorance and inaptitude.
Peter Gregory Obi,I put it to you if truly you are aware of the economic status of Nigeria you will not speak like this.
This country is at the verge of total collapse,so it is not business as usual.Everything in Nigeria was no more working,a bankrupt country was handed over to Tinubu so he has to do the unusual and unbelievable to first save the country from total collapse before thinking of walking with his shoulders up.
Thank God the President is giving the economic issues the seriousness it demands and gradually building the confidence of investors.
I thank God Peter Obi did not win, because I see clearly that he lacks the quality of the President we need at this quagmire we found ourselves.He lacks the capability to rule this country now or any time on the nearest future.
Nigeria don't need this kind of senseless opposition,but opposition that would criticize and cross embellish with objectivity and precision.
Mr Peter Obi please stop playing Politics with the future of Nigeria and it would be better to keep quiet if you don't know what to say.

Posted: at 18-12-2023 11:28 AM (4 months ago) | Newbie

chase after china!! im tell u idiot u wont listen to me don't go after western people they are evil!!

Posted: at 18-12-2023 12:43 PM (4 months ago) | Grande Master

Just as you attracted Panama while you're Governor of Anambra State.
This Watermelon head Peter Obi should be stopped fro. Going around the world pretending to have the requisite to be elected as the solution to the economic situation of the country.
He hasn't got the foggiest clue. He's just going round whipping up sentiment about Igbo presidency.

Posted: at 19-12-2023 07:37 AM (4 months ago) | Upcoming