The Minister of Industry, Trade and Investment, Dr. Olusegun Aganga, said Nigeria under the President Goodluck Jonathan’s administration has gained over $21 billion in net Foreign Direct Investment (FDI), ranking as number one destination for investment in two consecutive years out of the three.
Aganga made the disclosure via an articlehe called “Better Than Ever” which was published in the current edition of the in-house magazine of the State House, Abuja, Villascope, where he stated that Nigeria emerged as one of the top three destinations for quantum FDI in Africa last year.
While lauding the current administration for thorough fiscal and monetary policies which he described as “game-changing policy interventions developed and executed by government ministries and agencies”, Aganga quoted the United Nations Conference on Trade and Development which ranked Nigeria as the fourth largest in the world in terms of returns on investment.
The Minister also described as game changing, the Nigerian Industrial Revolution Plan which is projected to see the contribution of Nigeria’s manufacturing industry to the Nation’s Gross Domestic Product increase by 6% in the next three years
His words: “The policy focuses on agro-allied, metals and solid minerals sectors, oil and gas industrial activities and construction and light manufacturing.
“All of these sectors are underpinned by sectoral policies that will be backed by law to ensure continuity in government policy.
“At the core of this policy is the recognition that throughout history, no nation has been able to move from a poor to a rich one through the export of raw materials and the knowledge that sustainable and inclusive growth can only be achieved through value-creating industrialisation.”