Business

Nigeria’s New Trade, Investment Policies To Further Attract local, global manufacturers

Published

3 years ago

July 14, 2023

406 Views

Nigeria has fine – tuned its trade and investment policies to further boost both local and foreign direct investments (fdi).

Dr. Evelyn Ngige, the Permanent Secretary, Federal Ministry of Industry, Trade and Investment (FMITI) discloses this during the
stakeholder’s sensitisation workshop in Abuja.

She said that the new policies which will be sustained for the next five years ( 2023 – 2027), have been approved for implementation by the Federal Government.

” The maiden Nigeria Investment Policy (NINP) and Trade Policy (NTP) documents marked the beginning of a new era in Nigeria’s investment climate of our country,” she said.

Represented by the Director, Policy, Planning, Research and Strategies in the ministry, Mr. Babagana Alkal, the Permanent Secretary explained that the NInP focuses on three pillars, namely: investment promotion, investment facilitation, and sustainable development, with the objectives to develop the investment policy framework, especially fast-tracking the process of Nigeria’s economic diversification, improving investment

The policy also seeks to improve investors’ experience and confidence through ensuring compliance with global best practices, while generating inclusive domestic growth for employment generation and wealth creation.

On her part, the Director, Investment Promotion Department, Federal Ministry of Industry, Trade and Investment, Mrs. Gertrude Orji, said the approval came at a time when the country is making concerted efforts to achieve economic recovery and growth.

“You are all aware that before now, Nigeria did not have a single comprehensive document on Investment policy, all that was in place were Investment related laws and regulations of MDAs and agencies.

“In 2018, the immediate past Honourable Minister of Industry, Trade and Investment, having realized the need for the country to have a holistic and link-based Investment policy document, approved that the Department of Investment Promotion should develop a detailed and sustainable investment policy that will provide a comprehensive roadmap for boosting domestic, regional and international investment in Nigeria,” she said.

She also explained that the process of reviewing the 2002 Trade Policy of Nigeria began in 2011, having realized the need to align with the current trend of the global and domestic economy.

She said the workshop therefore seeks to sensitize stakeholders and the general public on these two policies and their implications for the trade and investment environment in Nigeria.

Also, Dr. Ezra Yakusak, the CEO , Nigerian Export Promotion Council (NEPC), told the stakeholders that an effective investment policy plays a crucial role in promoting export growth by creating a conducive environment for both domestic and foreign direct investment (FDI).

He said these elements were critical catalysts that propels economic development which the new policy seeks to achieve.

He added, “We at the NEPC will support any policy or instrument that will positively change the trade trajectory of the nation and bring about foreign exchange earnings, job creation and economic diversification.”

Related Topics:FDI Manufacturers Trade and Investment Policies

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Exchange Rates Today Friday, 12 June

Black Market Rates
US Dollar (USD) ₦1,397
Great British Pound (GBP) ₦1,850

Published

3 days ago

June 12, 2026

OCHEFA

45 Views

Official CBN Exchange Rates

US Dollar (USD) ₦1,363. 83

Great British Pound (GBP) ₦1,821. 25

EURO (EUR) ₦1,572. 90

SWISS FRANC (CHF) ₦1,706. 49

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦201.20

West African CFA (XOF) ₦2.40

West African Unit Account (WAUA) ₦1,857. 45

SAUDI RIYAL (SAR) ₦363. 29

SOUTH AFRICAN RAND (ZAR) ₦82.61

Black Market Rates

US Dollar (USD) Buy ₦1,397 Sell ₦1,405

Great British Pound (GBP) Buy ₦1,850 Sell: ₦1,870

EURO (EUR) Buy ₦1,587 Sell ₦1, 607

Canadian Dollar (CAD) Buy ₦1,030 Sell ₦1,100

South African Rand (ZAR) Buy ₦75 Sell ₦90

UAE Dirham Buy ₦350 Sell ₦370

Chinese Yuan Buy ₦180 Sell ₦200

Ghana Cedi (GHS) Buy ₦95 Sell ₦110

West African CFA Buy ₦2, 380 Sell ₦2, 460

Central African CFA Buy ₦2, 220 Sell 2,300

Australian Dollar Buy ₦800 Sell ₦900

Business

Airtel launches data calculator to counter depletion complaints

Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said that the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.

Published

4 days ago

June 11, 2026

OCHEFA

60 Views

Airtel Nigeria has launched the Airtel Web Data Calculator, a new digital tool designed to help customers estimate and better understand their internet data consumption based on real-life usage patterns.

Available through Airtel’s website, the calculator enables customers to estimate data usage across common digital activities such as video streaming, social media engagement, voice and video calls, and everyday web browsing.

Speaking on the launch, Oladokun Oye, Customer Experience Director, Airtel Nigeria, said that the initiative reflects Airtel’s commitment to customer empowerment and service transparency.

“As Nigerians become increasingly dependent on digital services for work, education, entertainment and communication, it is important that customers have clear visibility into how their data is consumed.

The Airtel Web Data Calculator was developed to help our customers understand their usage patterns better, make informed choices, and enjoy greater confidence in their digital experience,” he said.

Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.

“The future of telecommunications will be defined not only by network investments but also by how effectively operators help customers understand and manage their digital lives. The Airtel Web Data Calculator represents a practical innovation that places more information and control directly in the hands of our customers.” He said.

Business

Kingsley Moghalu chairs Bluecode Africa subsidiary in Nigeria

Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.

Published

4 days ago

June 11, 2026

OCHEFA

61 Views

Bluecode Africa, the European payments infrastructure operator backed by leading US and European institutional investors, has named Prof Kingsley Chiedu Moghalu as Chairman of the Advisory Board of its Nigerian subsidiary, Bluecode Payments Nigeria Limited as the company formally enters the Nigerian market.

The appointment was jointly announced by Chris Pirkner, Founder of Bluecode, and Odin Krismayr, Managing Director of Bluecode Africa, who described it as a foundational governance decision for the company’s Nigerian and continental operations.

Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.

He led the team that introduced the unique-identifier Bank Verification Number (BVN), enrolling 50 million banking users, simplifying Know Your Customer (KYC) procedures, and doubled Nigeria’s financial inclusion rate from 33 to 60 per cent.