The Federal Ministry of Industry, Trade and Investment (FMITI) has partnered with the Nigerian Exchange Group (NGX Group) to achieve its ambitious $6 billion investment target.
In a statement signed on Tuesday by Mr Adebayo Thomas, Director, Press and Public Relations of the ministry, the commitment was underscored during a Closing Gong Ceremony at the NGX in Lagos.
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, outlined FMITI’s ambitious target to facilitate $6 billion in foreign investment into Nigeria’s productive economy in 2025.
Oduwole was at the Nigerian Exchange Ltd. (NGX) on the invitation of the Board and Management of Nigerian Exchange Group Plc (NGX Group) to perform the distinguished Closing Gong Ceremony on the Nigerian Exchange in Lagos on April 28.
Explaining further the financial targets and strategic vision of the $6 billion target, she said $3 billion was projected to come from Foreign Direct Investment (FDI) into key sectors.
According to her, such sectors include infrastructure, manufacturing, agribusiness, technology, and renewable energy.
She explained that these sectors were pivotal to creating jobs, promoting exports, and enhancing Nigeria’s productive capacity.
She said another $3 billion would be mobilised through Foreign Portfolio Investment (FPI) by leveraging innovative financial instruments like green bonds, diaspora-linked securities, and SME-focused platforms.
She noted that these efforts were aimed at deepening market liquidity and aligning capital flows with national priorities.
Dr Oduwole emphasised the integral role of capital markets in driving economic resilience and sustainable growth.
She said, “Deepening Nigeria’s capital markets is fundamental to improving investment flows, creating jobs, and sustaining long-term economic resilience.”
Also, Ahonsi Unuigbe, Chairman, NGX, reinforced the importance of this collaboration.
He said, “Capital markets are powerful engines of innovation, business expansion and economic inclusion, all of which are essential to advancing Nigeria’s industrialisation objectives.”
Temi Popoola, Group Managing Director of NGX Group, highlighted the Exchange’s technology-driven vision.
“We are building a next-generation exchange ecosystem designed to democratise investment opportunities, enhance market liquidity and position Nigeria as a competitive destination for both domestic and international capital,” he said.
The News Agency of Nigeria (NAN) reports that the notable areas of collaboration included: Strategic Listing of State-Owned Enterprises, Empowering SMEs, and Green and Sustainable Finance.
Oduwole, was at the NGX on April 28 at the invitation of the Board and Management of the NGX Group to perform the distinguished closing gong ceremony on the Nigerian Exchange.
This symbolic ceremony, held on trading days, marks the formal close of the market and provides an excellent platform to showcase leadership, inspire stakeholders, and address critical economic issues. (NAN)
