Nigeria Set to Attract Major Foreign Investment

ABUJA , NIGERIA — Nigeria is on the cusp of securing multi-billion-dollar foreign investments following a strategic meeting between the Minister of Solid Minerals Development, Dr. Dele Alake, and top investors from Vietnam and Canada.

Speaking to journalists after the high-level closed-door meeting, Dr. Alake expressed confidence that the collaboration could significantly strengthen Nigeria’s economy. He said the engagement aligns with President Bola Ahmed Tinubu’s Renewed Hope agenda, which prioritizes economic revitalization through global partnerships.

Also present at the meeting was the Minister of Women Affairs, Barr. Uju Kennedy-Ohanenye, underscoring the administration’s commitment to cross-sectoral collaboration.

Highlighting Nigeria’s mineral potential, Dr. Alake noted that although the country has a history of gold production dating back to 1913—with approximately 1.4 tons mined between 1913 and 1934—its gold reserves remain vastly underexploited. “These natural resources must be harnessed for the prosperity of Africa,” he emphasized.

Mr. Le Hoai Nam, Chairman and President of a leading Vietnamese investment firm, described the partnership as a game-changer for Nigeria. He announced plans to introduce cutting-edge technologies, including clean and nano-agriculture, to support economic transformation.

“Fifty years ago, Vietnam was a hungry nation. Today, we are one of the largest rice exporters in the world. That is the type of progress we see as possible for Nigeria,” Mr. Nam said.

Echoing this optimism, Mr. Bede Kingsley Onyeocha, CEO of Allen Le & Partners, praised the growing investor confidence in Nigeria, citing increased momentum in the country’s investment climate.

HRH Queen Mother Ambassador Amina Temitope Ajayi Labinjo—popularly known as “Mama Diaspora” and Chairperson of a U.S.-based investment firm—also endorsed the initiative. She described the project as already yielding “significant profit and promise,” and lauded President Tinubu’s dedication to propelling Nigeria toward sustainable economic growth.

By Taiwo Olatinwo May 28, 2025