Fed. Govt Mobilises $380m For Industry Drive In 90 Days

The Federal Government says it has mobilised more than $380 million in financing within the first 90 days of implementing the Nigeria Industrial Policy (NIP) 2025, as it seeks to revive manufacturing, deepen value addition and strengthen the country’s competitiveness under the African Continental Free Trade Area (AfCFTA).

The disclosure was contained in a 90-day progress report released on Friday by the Office of the Minister of State for Industry, Senator John Owan Enoh.

According to the report, the financing package is anchored by a $369 million facility from the African Development Bank (AfDB) for the MSME Industrial Clusters Programme and a $12 million entrepreneurship centre ...