The Federal Government has commended the International Finance Corporation (IFC) for its continued confidence in President Bola Tinubu-led Nigeria’s economy.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement, yesterday, said that Tinubu made the commendation following IFC’s $50 million equity investment in the Lagos Free Zone, a Tolaram initiative to support the development and expansion of Nigeria’s first deep-sea port-based, private special economic zone.

The President, who described the investment as a testament to the growing trust of global financial institutions in Nigeria’s economic direction under his administration, said that such strategic partnerships reinforce the country’s position as a prime destination for foreign direct investment and industrial growth.

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, therefore, welcomed the firm’s continued efforts to drive industrialisation, create jobs, and foster economic growth. Tinubu, while appreciating the IFC’s investment, reaffirmed his administration’s commitment to fostering a business-friendly environment that attracts even larger, transformative investments across key sectors. He also highlighted the IFC’s growing partnership with Nigeria, including its $70 million support for power sector initiatives.

IN another development, Ekiti State Government has engaged the consultant that handled the Lagos State Emergency Management Services (LASEMA) to conduct a comprehensive review of Ekiti State’s security, safety and emergency services.

This was part of the resolutions reached at the end of the weekly State Executive Council meeting held in Ado-Ekiti yesterday. A statement by the Commissioner for Information and Value Orientation, Taiwo Olatunbosun, said the decision followed the governor’s visit to LASEMA premises and Logic City Fleet Services Limited.

Olatunbosun said that one of the key strategic initiatives of Oyebanji’s administration is the proactive plan to reform the safety, security and emergency management architecture of the Ekiti State to boost growth and development, as well as the general well-being of the people.