UPDATE: NIGERIA SECURES $30 BILLION INVESTMENT COMMITMENT IN ONE YEAR - MINISTER OF INDUSTRY

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Over $30 billion in investment commitments were made to Nigeria in the last year, according to Minister of Industry, Trade, and Investment Doris Uzoka-Anite.

In providing an update on the ministry’s accomplishments, the minister mentioned that the Federal Government plans to build up commercial courts across the nation to hear business cases.

The speaker also brought up the Lagos International Trade Fair Complex’s income growth to ₦430 million, noting that Nigeria will be the host nation for the upcoming trade show, which was last held in 2010.

She stated that the purpose of this development is to make it clear that Nigeria is a major participant for investors.

Dr. Anita went on to say that the FG has committed $3.5 million to reopening the textile and clothing sector and is launching the “light up” initiative to improve the power landscape for small and medium-sized businesses (SMEs).

She is providing an update on the sector’s accomplishments as part of the celebration of President Bola Tinubu’s first anniversary in office.

As May 29 draws near, the president has outlined a number of initiatives to commemorate the event and ordered a low-key celebration.

He presided over the concrete-paved road’s opening on Sunday, which connects Tin Can Island and Apapa, two of the country’s main ports.

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 commercialisation 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 commercialisation 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.