She emphasised that the federal government is now responsible for ensuring that these investment commitments materialise.
By Ife Osemedua
365Daily – Minister for Industry, Trade, and Investment, Jumoke Oduwole, has revealed that President Bola Tinubu’s foreign trips have led to proposed investments totaling $50.8 billion.
Speaking at a ministerial briefing in Abuja on Tuesday, March 4, 2025, Oduwole noted that Nigeria’s economy requires approximately $50 billion to stabilise its foreign exchange (FX) situation.
She emphasised that the federal government is now responsible for ensuring that these investment commitments materialise.
“As of December 2024, Mr. President’s over 30 international trips have generated $50.8 billion in announcements,” Oduwole stated.
She explained the ministry’s role in tracking these investment pledges and facilitating their rrealisation, saying, “Where the ministry’s work comes in is tracking those announcements and making sure that it (sic) comes to fruition.
“For example, about two weeks ago, the Brazilian trip on the sidelines of G20, where the largest meat exporters in the world, meat producers in the world, announced that they would invest $2.5 billion in Nigeria.
“That’s the sort of work that the ministry does to make sure that if there’s an announcement of an investment or a trade relationship, that we make it happen.”
Beyond tracking investments, Oduwole outlined the ministry’s broader responsibilities in facilitating business operations.
“Aside tracking these investments, our role as [the] federal ministry of industry, trade and investment is to handle those businesses, to remove the regulatory and bureaucratic bottlenecks, to share information, the transparency and the efficiency of public service delivery, to support them in whatever incentives are possible for them, and to bring that money home,” she said.