News | How Africa's populous nation plans to generate $30 billion from Made in Nigeria for Exports project

How Africa's populous nation plans to generate $30 billion from Made in Nigeria for Exports project

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  • President Muhammadu Buhari says it may generate $30 billion annually and create 1.5 million jobs by 2025. 
  • Nigeria looking for ways to to increase the manufacturing industry’s share.

The government of Nigeria has reached an agreement with strategic investment partners on Made in Nigeria for Exports project.

The project, according to President Muhammadu Buhari will generate $30 billion annually and create 1.5 million jobs by 2025. 

According to reports, the effort is to bring in as much as $30 billion from products manufactured in the country and sold abroad.

Officials of their governments and strategic partners

In a report by Thisday, during the signing of the project agreement at the State House in Abuja over the week, President Buhari said “the country is looking for ways to increase the manufacturing industry’s share of gross domestic product to 20%, generate $30 billion in annual export earnings and create 1.5 million jobs in the next six years.”

Parties to the agreement include African Export-Import Bank, Africa Finance Corp., the African Development Bank, Bank of Industry and Nigerian Sovereign Investment Authority.

The report says the Nigeria SEZ Investment Co., set up to run the project, will start off a pilot phase with special economic zones in Enyimba Economic City in Abia state, Funtua Cotton Cluster in Kastina and Lekki Model Industrial Park in Lagos, this was reported by THISDAY newspaper who covered the event

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By Kwame Ntow 10/02/2019 16:05:00