Nigeria has secured $50.8 billion in investment deals as of November 2024, according to the Minister of Industry, Trade and Investment, Jumoke Oduwole.
Oduwole made the disclosure on Tuesday during a ministerial briefing in Abuja, highlighting her ministry’s achievements. She noted that Nigeria has positioned itself as a key player under the African Continental Free Trade Area agreement and completed a World Trade Organisation review.
The minister also emphasized efforts to remove bottlenecks hindering investment growth, leveraging collaboration with key stakeholders. She cited reforms, investment inflows, and policy advancements as significant strides made by her ministry.
The Minister of State for Industry, Trade and Investment, John Enoh, added that the government is currently pursuing a strategy to help manufacturers benefit from appropriate gas pricing. He described this approach as potentially a “game changer” for the sector.
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One major reform outlined by Oduwole was the establishment of an Industrial Revolution Work Group and a National Industry Tour. These initiatives aim to assess and revitalise Nigeria’s industrial landscape.
Oduwole also highlighted the growth of Africa’s digital trade and services landscape, driven by the African Continental Free Trade Area agreement. She noted that digital trade is transforming the continent’s economic landscape, creating opportunities for economic growth, job creation, and poverty reduction.
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