The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, has announced that Nigeria has secured over $50 billion in investment commitments from President Bola Ahmed Tinubu’s international trips. Speaking at a ministerial press briefing in Abuja, she projected that these investments could yield returns of $50-$80 billion by 2030, contributing up to 30% of Nigeria’s GDP.
Dr. Oduwole outlined ambitious economic goals, including a GDP per capita growth of at least 11.7%, an overall GDP increase of 15-17%, and a 15% rise in exports, estimated at $79 billion. She also predicted that the investments would generate at least 11 million new jobs, with key commitments such as a $2.5 billion investment from Brazil’s largest meat exporters.
Boosting Digital Trade & Export Growth
The minister emphasized digital trade as a priority, stressing the need for robust digital infrastructure to expand economic opportunities. While fiber-optic investments have surged, she acknowledged that rural areas still face connectivity challenges. She highlighted ongoing collaborations with tech giants like Google to empower Nigerian youth in the digital economy.
On export market access, she noted that the Nigeria Export Promotion Council (NEPC) is working with international partners, including Japan, to resolve trade barriers, particularly for farmers. The ministry is also collaborating with the Central Bank of Nigeria (CBN) on tax reforms and policies to improve the business environment.
Strengthening Nigeria’s Position in African Trade
Dr. Oduwole reaffirmed Nigeria’s commitment to the African Continental Free Trade Area (AfCFTA), emphasizing its potential for trade revenue growth and smoother business operations across African borders. She highlighted efforts by the Nigeria Customs Service to unify trade regulations, simplifying cross-border trade for businesses.
Additionally, Nigeria is bidding to host Afreximbank’s International Africa Trade Fair, a major continental event that could align with the country’s 50th anniversary of FESTAC, further enhancing its global economic and cultural visibility.
Investment Implementation & Economic Policies
Dr. Oduwole assured that the government is actively working to convert investment pledges into tangible projects by eliminating bottlenecks. She cited the Brazilian meat producers’ investment, where her ministry provided direct support to expedite processes. She also mentioned ongoing regulatory reforms aimed at strengthening the private sector and investor confidence.
In his address, Minister of Information and National Orientation, Muhammed Idris, described the 2025 budget as a bold roadmap for economic resilience and national progress. He noted that food prices are gradually reducing, signaling the positive impact of government reforms.
“The 2025 budget is not just a financial document but a statement of intent a year where all of President Tinubu’s transformative reforms begin to bear tangible fruits,” he said.
The third edition of the ministerial briefing featured Dr. Jumoke Oduwole alongside the Minister of State, Senator John Owan Enoh, as they reaffirmed the government’s commitment to economic growth, investment facilitation, and trade expansion.
