Tuggar: Nigeria Has Attracted $14b Investment From India, Pulled €250m Investment For Nigerian Businesses…Signs MoU With 10 Countries

By BOLORI

The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has said the nation has attracted investment worth $14 billion from India across multiple sectors through the instrumentality of the Ministry of Foreign Affairs.

He said that this was beside another €250 million pulled for Nigerian businesses.

Tuggar also said the Ministry successfully facilitated the repatriation of $52.8 million in stolen assets from the United States, while revealing that strategic Memorandum of Understandings (MOUs) were signed with ten countries.

The minister who noted that the MoUs aimed at improving the countries bilateral relations with the various countries including Germany, Saudi Arabia, China, Equatorial Guinea, France, Cuba, Qatar, UK, India, abd Brazil.

Tuggar, who gave account of his stewardship as minister of foreign affairs, said the ministry’s primary responsibilities has been to facilitate investment and economic partnerships that contribute to Nigeria’s growth and development.

He said to this end, the ministry has successfully secured a range of significant investment deals and forged strategic relationships which include: “Facilitating $14 billion worth of investment commitments from three Indian investors across diverse sectors, including ICT, agriculture, power, steel and manufacturing, defense, telecom, space communications, digital solutions, insurance, processed foods, real estate, andhospitality. This massive investment is expected to not only provide substantialfinancial returns but also stimulate job creation and technological innovationwithin Nigeria.

He said: “A €250 million investment was secured from the Netherlands to boost existing businesses in Nigeria, creating further opportunities for economic growth.” Additionally, a $2 billion investment with Germany on the Nigeria-Siemens Power Project aims to revamp the nation’s power sector, enhancing electricitysupply and reliability.”

In the area of asset recovery and national development, the minister said the “Ministry successfully facilitated the repatriation of $52.8 million in stolen assets from the United States, an effort that was finalized in January 2025. These funds will be utilized for national development projects through a World Bank grant to support the rural electrification agency, benefiting over 6 million households.”

Tiggar said another major accomplishment under his stewardship “was the signing of a pact with Saudi Arabia to tapinto the $7.7 trillion halal economy, explaining that this cooperation will position Nigeria as a leading player in the global halal market, opening doors to trade and investmentin halal-certified products. Strengthening National Security for Peace and Stability.”

The Minister also listed as another achievement under his watch the British International Investment’s (BII) commitment to expand its investment in Nigeriafrom $230 million to $1 billion, driving growth in infrastructure, energy, and technology.

The Minister also listed the role of the ministry in the signing of the commercial phase of the $1.1 billion Green ImperativeProject deal to boost agriculture productivity and enhance private-sectorinvestment in Nigeria.

Energy and Natural Resources.

He said the ministry also played a significant role in improving health and sanitation by facilitating USAID’s $50 million Water for the World initiative, focusing onaccess to clean water and hygiene in rural Nigeria.

He also noted that significant steps were taken to enhance Nigeria’s nationalsecurity and regional stability through its diplomatic efforts, emphasizing that ensuring the safety of Nigeria andthe West African region has been central to the Ministry’s objectives.

Also, in the area of digital and creative enterprises programme, he said the ministry in the £100 million financing agreement for the Digital and Creative Enterprises Program (I-DICE) which aimed at promoting innovation and entrepreneurship in Nigeria’s digital economy, noting that this is also beside another signing of MOUs worth $600 million between Nigeria and France to further promote technological development and creative industries.

He said in the area of Diaspora Engagement, the Ministry’s launched Nigerians in Diaspora Database, which exceeded 11,000 registrations.

He said: “This database strengthens engagement with the diasporacommunity and informs policy planning.”

He said “The Ministry negotiated the release of Nigerian nationals who hadbeen wrongfully detained in foreign countries, including the UAE and Saudi Arabia, showcasing Nigeria’s commitment to the protection of its citizens abroad.”

Tuggar also addressed concerns raised about delay in the appointment of ambassadors, explaining that it is part of the nature of governance and politics.

He reassured Nigerians that in the near future, the ambassadorial list will be forwarded to the Senate for approval.

He, however, explained that mission officers are currently managing the embassies, ensuring that diplomatic operations continue smoothly.

He said: “The delayed nomination of ambassadors is what it is. It is the nature of governance and politics. You work with the circumstances you find yourself in. I want to assure you that in the near future, names of the nominated ambassadors will be forwarded to the Senate. It is something that is concluded.

“We have missions’ officers running the embassies for now. We have immigration, defence, military officers and several others. It does not mean that the missions are halted simply because an ambassador has not been appointed. We are working. Our missions are functioning “.

On the international scene, the minister revealed how Nigeria help facilitate infants from Gaza to UAE, Jordan and Egypt.

He said, “The Red Cross reached out to us, asking if Nigeria would be willing to take in some of the infants from Gaza because they were looking for countries that had expressed concern over the dire humanitarian situation.

“Our response was that we cannot take the risk of flying such fragile infants, some born with heart conditions, all the way from the Middle East to Nigeria. If something happens, people will question why we took such a risk when we have our own healthcare challenges here.”

He also added that the government leveraged diplomatic channels to negotiate with the governments of Jordan, the UAE, and Egypt, urging them to take in the children.

“We used our good offices and diplomatic connections to reach out to the Foreign Ministers of these countries and impress upon them the need to accept and provide medical care for the infants. And alhamdulillah, it succeeded.”

He noted that “The Ministry of Foreign Affairs has successfully advanced Nigeria’s national interests through its multifaceted diplomatic, economic, and security initiatives. With key investments,partnerships, and strategic alliances secured, Nigeria is well-positioned for long-term growthand prosperity.”

He added, “Looking ahead, the Ministry will continue to prioritize economic growth,national security, and global engagement, ensuring Nigeria remains a key player in shaping the future of global governance and international relations.”