President Bola Tinubu is set to leave the presidential villa Abuja for Malabo, Equatorial Guinea, on a three-day official visit to honour the invitation of President Teodoro Obiang Nguema Mbasogo.
This is contained in a statement released by the President’s spokesperson, Ajuri Ngelale, on Tuesday in Abuja.
According to Ngelale, the visit to the Central African country will focus on discussions around investment as well as security issues in the region.
Ngelale noted that President Tinubu will meet with Nguema Mbasogo and deals particularly on oil and gas as well as security will be signed between the two leaders.
What the Presidency is Saying
The statement read as follows:
“President Bola Tinubu will on Wednesday, August 14, depart Abuja for Malabo, Equatorial Guinea, on a three-day official visit to honour the invitation of President Teodoro Obiang Nguema Mbasogo.
“President Tinubu will meet with the Equatorial Guinean President at the Presidential Villa on arrival, where meetings will be held between the two leaders and agreements, particularly on oil and gas and security, signed.
“The President will be accompanied on the trip by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and other members of his cabinet who will be involved in the signing of agreements and review of opportunities to improve bilateral relations.”
What you should know
- Since his resumption into office as president in May 2023, Tinubu has visited various countries including France, Netherlands, South Africa and the United Arab Emirates.
- These trips usually focus on investment talks as the president has continuously said driving foreign investment is part of his administration’s economic policy.
- According to the Minister of Information, Idris Mohammed, Tinubu’s international shuttles have yielded over $15 billion in Foreign Direct Investment (FDI) pledges in various sectors of the economy.
- Meanwhile, Nairametrics analyzed that in one year, the foreign trips of the president has cost the nation around N16.06 billion in spending.
- The data included spending by the president, vice president, First Lady, and the Chief of Staff to the President.
- It also included the purchase of foreign exchange (forex) for the Presidential Air Fleet.