• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Monday, June 2, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home Business

Nigeria Currently Has $30bn Investment Commitments, Says Minister

The federal government says the country currently has about $30 billion in investment commitments

Ojimaojo Abubakar by Ojimaojo Abubakar
February 9, 2025
in Business
0
Nigeria  Currently Has $30bn Investment Commitments, Says Minister
0
SHARES
2
VIEWS
FacebookTwitterWhatsappEmailTelegram

The minister of industry, trade and investment,Doris Uzoka-Anite says the country currently has about $30 billion in investment commitments from various investors.

Doris Uzoka-Anite, disclosed this at the ministerial media briefing in Abuja organised by the ministry of information and national orientation on Friday.

According to Uzoka-Anite, the commitments will be redeemed within five to eight years.

RelatedPosts

10 Stockbroking Firms Trade N2.14trn Worth of Stock in Five Months

Currency in Circulation Hits N5.01trn as Cash Outside Banks Declines

APM Terminals Apapa, GIVO Launch Recycling Hub to Tackle Plastic Waste

She said investments, commitments, and pledges were also received from oil and gas free zones.

“I hosted the managing director of Shell who explained to me about the investment plans of Shell,” Uzoka-Anite said.

“I know a lot of us are aware that Shell is leaving; he came to explain to me what they mean by that. And I can tell you that they are not leaving.

“Rather, they are expanding and increasing their investments in Nigeria; they are selling their onshore assets and increasing their investment in gas and offshore assets.”

Speaking on the outcomes of Nigeria’s bilateral deals, the minister highlighted successful bilateral engagements, like the G20 summit in India that “yielded $14 billion in pledged FDI inflows to Nigeria”.

Reiterating significant investment announcements and partnership opportunities for Nigerian trade, she attributed them to President Bola Tinubu’s diplomatic visits to India and engagements with stakeholders in the oil and gas sector.

“Our bilateral engagements have been fruitful and have led to significant investment announcements and partnership opportunities for Nigerian trade,” she said.

ALSO READ:  Huawei Trains Nigerian Civil Servants, Harp On Renewable Energy

The minister added that last week, the government secured $10 billion in investment commitments for the oil and gas sector.

She said following this achievement, the Confederation of Indian Industries visited Nigeria to delve deeper into identified investment prospects.

“These interactions with countries such as India, Germany, the Netherlands, the UAE, and South Africa, among others, have created opportunities for investment and the development of collaborative regulatory frameworks,” she said.

Uzoka-Anite said Nigeria received an expression of interest from a leading steel manufacturer in India, committing $7 billion to the country’s steel sector.

She also said the Nigerian Bottling Company has invested $1.3 billion over the past decade, with plans for an additional $1 billion investment in the next five years.

The minister emphasised collaborative efforts between the ministry, customs, the Central Bank of Nigeria (CBN), and the ministry of finance to automate the export permit process for increased transparency.

She reiterated the commitment to enhance transparency by automating the export permit process, enabling better oversight and auditing to ensure that exports are duly repatriated.

 

Uzoka-Anite, who envisaged more investments into the country, said it would not have been possible without the commitment of the federal government led by Tinubu

She said with increased investments come job opportunities and economic growth, which is part of the priority of the government

Ojimaojo Abubakar

Ojimaojo Abubakar

Abubakar Ojimaojo is a graduate of Mass Communication, political and football analyst currently work at elanzanews.ng as Editor. He pride himself as skilled wordsmith with a passion for delving into contemporary political issues on both national and international scale.

Related Posts

Market Highlights: ₦63.79 Billion in Trades on the NGX This Week

10 Stockbroking Firms Trade N2.14trn Worth of Stock in Five Months

by Nathaniel Irobi
June 2, 2025
0

A total of 10 stockbroking firms traded N2.14 trillion worth of stocks between January and May of 2025 as the...

2025 Hajj: CBN approves cash-based BTA for pilgrims

Currency in Circulation Hits N5.01trn as Cash Outside Banks Declines

by Nathaniel Irobi
June 2, 2025
0

Currency in circulation (CIC) in Nigeria climbed to N5.015 trillion in April 2025, up marginally from N5.003 trillion in March,...

APM Terminals Apapa, GIVO Launch Recycling Hub to Tackle Plastic Waste

APM Terminals Apapa, GIVO Launch Recycling Hub to Tackle Plastic Waste

by Nathaniel Irobi
June 2, 2025
0

In a strategic move to combat plastic pollution and foster environmental sustainability in Apapa, APM Terminals Apapa, Nigeria’s largest container...

Recommended

Abia: Gov Otti Spends N40 billion to Clear Salary, Pension Arrears

Abia: Gov Otti Spends N40 billion to Clear Salary, Pension Arrears

3 days ago
Lassa Fever, Meningitis Kill 366 in 24 states – NCDC

Lassa Fever, Meningitis Kill 366 in 24 states – NCDC

3 days ago

Popular News

  • Arewa group hails Tinubu’s inclusive appointments

    NURTW President Hails Tinubu’s Reforms, Urges Greater Support For Transport Sector

    0 shares
    Share 0 Tweet 0
  • Environment Minister’s Scholarship Beneficiary Tops 2025 UTME In Northern Nigeria With 345 Score

    0 shares
    Share 0 Tweet 0
  • NAHCON Officials Grumble in Saudi Arabia Over Unpaid Allowances

    0 shares
    Share 0 Tweet 0
  • Abuja Estate Firm Announces Customer Loyalty Rewards

    0 shares
    Share 0 Tweet 0
  • Group Warns Against Attempt To Pitch Senator Katung Against Tinubu, Gov Uba Sani

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (719)
  • Education (213)
  • Entertainment (307)
  • Health (187)
  • National (2,063)
  • News (7,746)
  • Opinion (283)
  • Politics (1,564)
  • Science (15)
  • Security (403)
  • Sports (414)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform