Nigeria – The Federal Government has strengthened trade and investment relations with five major economies—Brazil, India, France, and the United Arab Emirates—as part of efforts to drive economic growth and wealth creation.
Minister of Trade and Investment, Dr. Jumoke Oduwole, announced this at a ministerial briefing in Abuja, following President Bola Tinubu’s directive for officials to update Nigerians on their progress in office. She emphasized that the administration’s goal is to position Nigeria as a leading investment hub, targeting a $50 billion Foreign Direct Investment (FDI) inflow.
Additionally, the ministry is working with a commercial bank to provide soft loans for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria’s 776 local government areas to boost manufacturing and grassroots economic activities. Talks have also begun with the International Finance Corporation (IFC) to develop Nigeria’s carbon market and secure sustainable financing for industrial growth.
Meanwhile, the Minister of Information and National Orientation, Alhaji Mohammed Idris, highlighted the administration’s economic consolidation efforts, citing the signing of the N54.2 trillion 2025 budget—the largest in the nation’s history. He described the budget as a strategic plan for economic resilience, social stability, and national progress.
In recent disbursements, the Bank of Industry (BOI) allocated N111.66 billion to support non-oil exports, while N110 billion was provided to 93 businesses in manufacturing, agriculture, and solid minerals.
By Damilola Adeleke| March 6, 2025
Adeleke Damilola (ACTION) is a versatile content writer with expertise in news writing and a seasoned media professional and broadcast specialist. Currently serving as News Editor for DNews Info, Damilola is also the CEO of the ACTION brand, committed to shaping lives and establishing a legacy of excellence for present and future generations.
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