- President commends Google CEO for advancing Artificial Intelligence, digitap transformation in Nigeria
President Bola Tinubu on Wednesday commended the International Finance Corporation over its recent $50m equity investment in the Lagos Free Trade Zone.
He described this as a symbol of the growing trust of global financial institutions in Nigeria’s economic direction under his administration.
Tinubu conveyed his message through a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga.
The investment falls under the Tolaram initiative to support the development and expansion of Nigeria’s first deep-sea port-based, private special economic zone.
President Tinubu emphasised that such strategic partnerships reinforce the country’s position as a prime destination for foreign direct investment and industrial growth.
He explained, “The expansion of the Lagos Free Zone is critical to our vision of positioning Nigeria as the gateway for trade and investment in West Africa and across the continent.
“This investment by the IFC not only strengthens Nigeria’s industrial base but also demonstrates the growing confidence of international investors in our economic policies.
“With improved industrial and logistics infrastructure, we are creating an integrated ecosystem that will accelerate exports, attract more investment, and enhance our global competitiveness.”
The Lagos Free Zone, strategically integrated with the Lekki Deep Sea Port, is designed to ease import and export operations, strengthen Nigeria’s role in regional and global value chains, and create a more efficient business environment.
The IFC’s investment will support land development, industrial expansion, and logistics infrastructure within the 860-hectare zone, ensuring full integration into Nigeria’s broader economic diversification strategy.
The President also acknowledged Tolaram’s long-standing commitment to Nigeria’s economic development, noting that the group’s deepening investments—from industrial zones to consumer goods and manufacturing—following its acquisition of Guinness last year reflect Nigeria’s strong potential as an investment destination.
He welcomed the company’s continued efforts to drive industrialisation, create jobs, and foster economic growth.
While appreciating the IFC’s investment, President Tinubu reaffirmed his administration’s commitment to fostering a business-friendly environment that attracts even larger, transformative investments across key sectors.
The Nigerian Leader highlighted the IFC’s growing partnership with Nigeria, including its $70m support for power sector initiatives to strengthen the country’s energy security.
“We value the IFC’s commitment to Nigeria’s economic progress and look forward to deeper engagements that will drive large-scale infrastructure projects, strengthen our industrial base, and create thousands of jobs for Nigerians,” the President added.
President commends Google CEO for advancing Artificial Intelligence, digitap transformation in Nigeria
Also, President Tinubu has commended Google Chief Executive Officer Sundar Pichai for the interest of the company in advancing Artificial Intelligence and digitap transformation in Nigeria.
President Tinubu met the Google team in Paris on Wednesday in company of Minister of Communication, Innovation and Digital Economy Bosun Tijani.
Google Team engaged in constructive discussions with President Tinubu aimed at forging a strategic partnership to enhance Nigeria’s journey towards Artificial Intelligence and digital transformation.
The collaboration seeks to position Nigeria as a prominent technology and innovation hub, leveraging AI, cloud computing, and digital infrastructure to foster economic growth and enhance global competitiveness.
The ongoing conversations focus on key initiatives such as expanding digital infrastructure in Nigeria, equipping the workforce with essential digital skills for the future, promoting AI-driven research and innovation, encouraging greater cloud adoption across various industries, and establishing Nigeria as a key player in the global digital economy.
President Tinubu emphasised that this partnership aligns seamlessly with his administration’s Renewed Hope Agenda, centred on economic diversification through industrialisation, technology, and innovation. The Federal Ministry of Communications, Innovation, and Digital Economy will provide strategic oversight, while the National Information Technology Development Agency will coordinate efforts alongside the private sector to ensure widespread and meaningful impact.
Speaking at the meeting, Google CEO Sundar Pichai reaffirmed the company’s commitment to supporting Nigeria’s digital transformation, stating: “Nigeria has an incredible opportunity to lead in AI and digital innovation in Africa. Google is excited to continue working with the Nigerian government to create an ecosystem that fosters innovation and economic growth.”
Speaking on the engagement with the President, Bosun Tijani said partnership between Nigeria and Google represents an important opportunity to accelerate Nigeria’s technological advancement and strengthen our digital economy. He further stated that Nigeria is committed to ensuring that AI and digital transformation create tangible benefits for businesses and citizens across the country.
President Tinubu acknowledged Nigeria’s potential as a burgeoning global technology destination and expressed his commitment to fostering a business-friendly environment that attracts strategic investments from leading tech companies. He appreciated Google’s ongoing involvement in Nigeria’s digital transformation and its contribution to opening new opportunities for businesses and young talents.
The discussions will continue as both parties look to deepen their collaboration and expedite Nigeria’s digital transformation, paving the way for sustainable economic growth.