'Nigeria 3rd in the league of world projected economic growth'

• Published date: 02 February 2023
• Publication title: Nigeria - The Nation

The Minister of Industry, Trade and Investment, Adeniyi Adebayo, said Nigeria is third in the league of nation's with a projected economic growth of three per cent after China and India.

The minister stated this at the Muhammadu Buhari Ministerial Score Card series in Abuja, stating that Nigeria is ahead of the United Kingdom, United State, Russia and most countries in Europe.

Nigeria, according to Adebayo, is ahead of these countries in terms of projected growth in Gross Domestic Product (GDP), showing that the administration is working in the right direction and with that growth comes employment.

He also noted that the government, through its Export Expansion Facility Programme (EEFP), has provided grants to over 280 export-oriented businesses, resulting in the creation and preservation of over 100,000 direct jobs and an additional 20,000 jobs for youths and women.

'The Industry, Trade, and Investment sector is critical to the growth and development of Nigeria's economy, job creation, and poverty reduction, as a Ministry, we deliver on this mandate by creating an enabling environment for businesses to thrive, establishing an industrial base, lubricating the wheels of commerce, and instilling confidence in economic activities.

'We created a strategic plan to diversify the Nigerian economy for growth, job creation, and poverty reduction. The blueprint included industrialisation, MSME growth, investment acceleration, and trade promotion. Process digitisation, anti-smuggling measures, and a delivery framework enabling it.

'The Backward Integration Program, which aims to domesticate production of high-priority items, is one of the key strategies used in the implementation of...