- Tinubu’s Policies Pull $5 Billion in New Investment
- The minister assured investors that Nigeria is restructuring to ensure stable policies, respect for contracts
- Says the fresh $5 billion commitment was made possible through the resilience of local and foreign manufacturers
The Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, says the federal government has attracted $5 billion into the economy through policy clarity and sustained investor engagement.
Eko Hot Blog reports that during an interview with Journalist, the minister said the inflow came from the manufacturing, fintech and energy sectors.
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He explained that the fresh $5 billion commitment was made possible through the resilience of local and foreign manufacturers, alongside renewed confidence from international investors.
Enoh said the government is intensifying efforts to rebound the economy and stressed that the Manufacturers Association of Nigeria (MAN) and other key players must remain at the centre of the country’s industrial recovery.
He described Aliko Dangote as “an institution,” adding that with his contribution and those of other major investors, Nigeria can achieve the economic strength the world has long anticipated.
While acknowledging the economic challenges, Enoh noted that inflation continues to strain households and businesses. He said energy supply, though improving, is still not where it should be, while security concerns in some regions demand constant vigilance.
“But challenges do not define the Nigerian story,” he said. “Our response to them does.”
Enoh praised the private sector for remaining the backbone of the economy, noting that it creates more than 90% of jobs and powers exports even under difficult conditions.
On the African Continental Free Trade Area, he said AfCFTA is Africa’s most ambitious economic project, creating a market of 1.4 billion people and a combined GDP of $3.4 trillion. He stressed that Nigeria must not only participate but lead.
The minister also assured investors that Nigeria is restructuring to ensure stable policies, respect for contracts, improved incentives for manufacturers and exporters, digitised port operations and faster dispute resolution.
“Nigeria is not just a market of over 200 million people,” he said. “We are a nation of ideas, youthful brilliance and boundless potential waiting to be scaled.”
Enoh added that these efforts align with President Bola Tinubu’s 8-point Renewed Hope Agenda, particularly item 7, which focuses on industrialisation. He said the country will only achieve its economic aspirations when industry and manufacturing occupy their rightful place.
He also commended MAN for sustaining its tradition of advocacy and recalled President Tinubu’s recent remarks at the Nigerian Economic Summit Group meeting in Abuja, where the president described Dangote as being “beyond an individual.”
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