Federal Minister of Industry, Trade and Investment (FMITI), Dr Jumoke Oduwole, has said the ministry has set an ambitious, yet achievable target to facilitate $6 billion in foreign investment into Nigeria’s productive economy.
Speaking during an appearance at the Nigerian Stock Exchange, the minister said at least $3 billion of this amount is expected through Foreign Direct Investment (FDI) and will go to strategic sectors such as infrastructure, manufacturing, agribusiness, tech and renewable energy which are areas that create jobs, enable exports and build productive capacity.
“We, therefore, aim to mobilise at least $3 billion through Foreign Portfolio Investment (FPI), by working with partners like the NGX to scale innovative instruments, strengthen investor confidence and align capital with our national priorities. Whether through green bonds, diaspora-linked securities, SME-focused investment platforms or project-linked funds, we see FPI not as a speculative flow but as a strategic tool for deepening liquidity, diversifying capital sources and driving long-term value creation in the real economy.
“As we look ahead, FMITI sees a strong alignment with the Nigerian Exchange Group and the broader capital market ecosystem. We believe capital markets can serve as more than funding platforms – as strategic enablers of Nigeria’s real-sector growth. This will require continued collaboration across at least six key areas and together, we can champion and enable the birth of the next generation of unicorns through digital trade and service exports under the AfCFTA,” she stated.
The Minister added that by expanding SME access to capital, more Nigerian businesses can be helped to scale, formalise and unlock transformative growth and job creation.
“As Nigeria transitions to a more sustainable industrial base, capital markets can be the primary channel for green bonds, ESG-linked products and infrastructure notes that align with our climate goals. Also, Nigerians abroad are looking for credible ways to invest in the country’s future. Capital markets can offer the transparency, structure and accountability needed to attract diaspora flows into scalable, high-impact opportunities,” the Minister explained.
She noted that the current dominance of trade sales highlights a need for more liquid, diversified capital market exit options, saying, “We must work together to expand product diversity, deepen secondary markets and align regulation with investor needs.
“Finally, we are working to ensure that every naira and dollar already invested in Nigeria is protected and enabled to grow. Through the Platinum Business Champions (PBC) and Export Business Champions (EBC) initiatives, we are actively resolving bottlenecks for our top firms and improving their experience of doing business in Nigeria.”
