• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Monday, June 2, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Trade, foreign investment surge under Tinubu’s reforms – Think Tank

Trade

The Matters Press by The Matters Press
March 26, 2025
Reading Time: 2 mins read
0
Intra-EAC trade down by $1.8bn on barriers, taxation

Nigeria’s economy is experiencing significant growth in trade and foreign investment inflows due to economic reforms implemented by the Presisent Bola Tinubu administration,.

RELATED POSTS

CUPP goofs over President Tinubu’s 2027 endorsement by governors

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

Tinubu explains mission as he marks second year in office

TheChairman, Independent Media and Policy Initiative (IMPI), Omoniyi Akinsiju said in a statement on Wednesday in Abuja.

“Nigeria’s total trade volume reached a historic high of N138 trillion in 2024, representing a 106 per cent increase from the previous year.

“The surge is attributed to the harmonisation of foreign exchange rates and the removal of fuel subsidies, key policies under Tinubu’s reform agenda.

“Total exports nearly doubled, rising by 96.3 per cent to N60.59 trillion in 2024, with crude oil exports accounting for 36 billion dollars,” he said.

The IMPI also noted a shift in Nigeria’s trade dynamics, with Africa emerging as the largest export destination, due to increased intra-African trade under the African Continental Free Trade Area (AfCFTA).

“Additionally, foreign exchange inflows into Nigeria rose by 41 per cent in 2024, reaching 79.8 billion dollars, with Foreign Direct Investment (FDI) also witnessing significant growth.

“When final figures for 2024 are tallied, Nigeria is expected to have attracted around 21 billion dollars in foreign investments, including 17 billion dollars from the Nigerian National Petroleum Corporation Limited (NNPCL).

“This has enormous implications for the country’s productivity, job creation, and wealth creation. Foreign investors are naturally drawn to economies that promise higher returns than those in their home countries,” he said.

The chairman said in spite these gains, there are concerns over the declining growth of the agriculture sector.

“This growth distortion has been attributed to the worsening impact of climate change, high input costs, and inadequate funding for farmers.

“It resulted from the trailing effect of the scrapping of the Anchor Borrowers’ Programme (ABP), an initiative that provided cheap input credits for farmers. This implies a reduced or non-intervention in the agriculture sector in 2024,” he said.

The IMPI chairman called for sustained policy measures to address agricultural challenges and ensure that economic gains translate to broader benefits for Nigerians.

“We hope these agriculture sector-related challenges will be addressed, especially considering the N1.5 trillion Bank of Agriculture (BOA) recapitalisation as provided in the 2025 Appropriation Act.

” This institutionalisation of funding channels to the agriculture sector is a more nuanced and sustainable approach to intervention in the industry.

Tags: Trade
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

Tinubu explains mission as he marks second year in office

May 29, 2025
Chevron, NNPC secure $1.4bn for drilling project
Economy/Technology

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

May 26, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Next Post
Nigeria Customs starts  waiver on import duty on pharmaceutical raw materials

Nigeria Customs starts waiver on import duty on pharmaceutical raw materials

Nigerians to own brand new vehicles, goods through new credit scheme initiative

TDF, TMSG support emergency rule in Rivers rate Tinubu correct legally

Recommended Stories

Infrastructure gulp N2,7tn in Nigeria

Africa faces annual infrastructure financing gap of $108bn

April 29, 2022
Trading in Nigerian stock market dips further N83bn

NGX Indices rebound, up 0.23%

February 9, 2023
Escape of Binance’s CEO as firm faces criminal charges

Escape of Binance’s CEO as firm faces criminal charges

March 25, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • CUPP goofs over President Tinubu’s 2027 endorsement by governors
  • Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling
  • Tinubu explains mission as he marks second year in office

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us