The Nigerian government, under President Bola Tinubu’s administration, has entered into 26 Memoranda of Understanding (MoUs) with various foreign countries and agencies, securing commitments valued at more than ₦4.2 trillion. These agreements cover sectors such as infrastructure, education, trade, investment, energy, and security.
Some notable agreements include a $2 billion deal with China for infrastructure development, a $500 million renewable energy and gas agreement with Germany, and a significant MoU with Russia on nuclear energy. Additionally, Nigeria signed MoUs to enhance trade with India, create 50,000 jobs in business process outsourcing, and preserve a UNESCO Cultural Heritage Site in Adamawa State.
The Ministry of Foreign Affairs noted that the total value might be higher as some MoUs did not disclose financial details. These agreements reflect Nigeria’s efforts to foster international cooperation and drive economic growth across various sectors.