FG Targets N15tr from Trade, Investments in Four Years
- By Simeon Ogoegbulem
- Published July 19th, 2011
- News
- Unrated
Olusegun Aganga, minister of trade and investment, last week in Abuja, stated that the federal government plans to generate over N15 trillion from trade and investment within the next four years.
Aganga, who spoke while formally taking over at the ministry as minister, disclosed that the huge expectations from the ministry informed its recent transformation from Commerce and Industry to Trade and Investment.
The minister stated that government expects much from the new ministry as it would be the link between the private sector and the economy. He said to achieve the goals, there will be some strategic planning, refocusing and repositioning of the country and the ministry.
“As you are probably aware from the Vision 2020 document, the investment required in the next four years is close to N35 trillion. Out of this, about N10 trillion is expected from the federal government, N9 trillion from the state governments and N15 trillion from the private sector.”
According to him, “If you are familiar with the budget, you will realize that we appropriated about N1 trillion in 2011 to capital projects. If we do N1 trillion every year over the next four years, that will give 40 per cent of what you require which means that the private sector has to drive the economy of this country.”
Aganga warned the staff of the ministry that his mission is to transform the new and refocused ministry of trade and investments and ensure that it takes its rightful place as the driver of the Nigerian economy. The minister said that going by the messages he has received from local and international community since the renaming of the ministry, there is no doubt that their mission will be realized.
Aganga, who spoke while formally taking over at the ministry as minister, disclosed that the huge expectations from the ministry informed its recent transformation from Commerce and Industry to Trade and Investment.
The minister stated that government expects much from the new ministry as it would be the link between the private sector and the economy. He said to achieve the goals, there will be some strategic planning, refocusing and repositioning of the country and the ministry.
“As you are probably aware from the Vision 2020 document, the investment required in the next four years is close to N35 trillion. Out of this, about N10 trillion is expected from the federal government, N9 trillion from the state governments and N15 trillion from the private sector.”
According to him, “If you are familiar with the budget, you will realize that we appropriated about N1 trillion in 2011 to capital projects. If we do N1 trillion every year over the next four years, that will give 40 per cent of what you require which means that the private sector has to drive the economy of this country.”
Aganga warned the staff of the ministry that his mission is to transform the new and refocused ministry of trade and investments and ensure that it takes its rightful place as the driver of the Nigerian economy. The minister said that going by the messages he has received from local and international community since the renaming of the ministry, there is no doubt that their mission will be realized.
