Nigeria Secures $30bn Investment Commitment In One Year- Industry Minister


The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, has revealed that Nigeria secured an investment commitment of over $30bn in the last year.

The minister while giving an update of the achievements of the ministry, noted that the Federal Government is set to establish commercial courts across the country to try business cases.

She also mentioned the increase in revenue to  ₦430m for the Lagos International Trade Fair Complex, adding that Nigeria is set to host the next trade fair which was last hosted in 2010.

This development, she said, aims to send a strong message that Nigeria is a big player for investors

Dr Anita further explained that the FG has invested $3.5m to unlock the textile and apparel industry, and is set to flag off the ‘light up ‘ campaign to boost the power situation for Small and Midsize Enterprises (SMEs).

Her update on the achievements of the sector she heads, comes as part of the events earmarked to mark President Bola Tinubu’s first anniversary in office.

The president had ordered a low-key celebration, listing a series of projects to mark the occasion as May 29 approaches.

On Sunday, he oversaw the inauguration of the concrete-paved road leading to the nation’s major ports in Apapa and Tin Can Island.

The project, initiated during the Muhammadu Buhari administration, was financed by the Dangote Group through tax credits under the Tinubu-led administration.

On the same day, he formally inaugurated, by virtual means, the refurbished Third Mainland Bridge, which has drawn public acclaim for its excellent finishing and aesthetic furnishing.

He also commissioned, virtually, the rehabilitation of 330 roads and bridges across the country, including the inauguration of the iconic Lagos-Calabar Superhighway, with an estimated cost of about N15trn.

Tinubu would return to Abuja on Tuesday, where he will inaugurate the Southern Parkway, named after him by the Nyesom Wike-led FCT administration, and then attend the National Assembly Dialogue Series, followed by the unveiling of the National Assembly Complex, also named in his honour, on Wednesday.

He will leave the National Assembly to relaunch the commercialization of Abuja Light Rail, also known as Abuja Metro. The Abuja Metro was completed in 2018 by the Buhari Administration. It was put into commercial use up till 2020, but was abandoned with the onset of COVID-19.

Subsequently, President Tinubu will relaunch the commercialization of the Abuja Light Rail, popularly known as Abuja Metro. The rail service, completed in 2018 under the Buhari Administration, ceased operations in 2020 due to the COVID-19 pandemic. After extensive refurbishment efforts led by FCT Minister Wike, including investing $15m and constructing access roads to various stations, the Abuja Metro is set to resume commercial operations.

Following a symbolic train ride to the city centre, he will also inaugurate the Wuye Flyover-Link Bridge and the Defence Intelligence Agency Headquarters.

On Friday, the president will commission the NASENI-Portland Compressed Natural Gas Reverse Engineering Centre at Utako.

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