Areas Ripe For Investment in the Nigerian Economy

The Government’s sectoral focus – and by extension, areas ripe for investment – are as follows:

• Agriculture and food security: Invest in the sector to achieve national self-sufficiency in tomato paste, rice, and wheat, and become a net exporter of rice, cashew nuts, groundnuts, cassava, and vegetable oil by 2020. Grow the sector by about 7% and prime agriculture as a job creator and a foreign exchange earner.

• Energy (power and petroleum products): Ensure energy sufficiency in petroleum products and become a net exporter by 2020. Optimize at least 10 GW of operational power capacity by 2020. Increase local oil production to 2.5 mbpd by 2020, expand oil sector infrastructure, and boost local refining.

• Transportation infrastructure: Partner with the private sector to strengthen transport infrastructure to aid the achievement of ERGP targets and build a competitive global economy

• Industrialization: Drive industrialization with emphasis on Small and Medium Scale Enterprises focusing on priority sectors such as agriculture, Fast Moving Consumer Goods, and manufacturing.

Interventions in these sectors will be undertaken against the backdrop of macroeconomic targets of low inflation, market reflective exchange rates, sustainable fiscal balances, diversified fiscal revenue base through improved tax and customs administration, and sub-national fiscal coordination amongst others.