The federal government is targeting $25 billion new investments from the recently launched economic laboratories.
This was disclosed by the Minister of Budget and National Planning, Senator Udo Udoma, yesterday after the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the presidential villa.
Noting that the labs will start in the first week of March, Udoma said government is targeting three areas, including agriculture and transportation, power and gas, as well as manufacturing and processing.
He further explained that all the indices in the economy, since President Buhari launched the Economic Recovery and Growth Plan in April, have been moving positively.
He, however, added that the federal government is not satisfied, even as he contended that they could do better.
The minister said, “That is why we are organising the labs. The Focused labs will be commencing in the week of the 5th of March. We will be bringing in investors, both domestic and international. We will be looking at three areas Agriculture and Transportation, Power and Gas, Manufacturing and Processing.
“It is going to involve many ministers in the Federal Executive Council who are actually going to drive that process.
“The target for the labs alone is to generate $25 billion worth of new investments. Some of the investments will be in naira, while some will be in dollars because we are expecting significant amount of domestic investments and not just foreign investments”.
Pastor Seeks Divorce, Alleging Wife Demands `Bribe’ Before Sex
A 48-year-old pastor, Abayomi Adegboyega, is seeking dissolution of his 16-year-old marriage, alleging that his wife always demands `bribe’ from...
NDLEA Arrests 43 Suspects, Removes 463KG Of Drugs In Gombe
The National Drug Law Enforcement Agency (NDLEA), Gombe Command, has arrested 43 drug suspects and removed from circulation, 463 kilograms...
New UN Envoy Lauds AU Troops For Stabilising Somalia
The newly appointed UN envoy in Somalia on Wednesday lauded the critical role played by the African Union (AU) troops...
Raining Season: FCT Farmers Hopeful Of Bumper Harvest
Some farmers in the Federal Capital Territory (FCT) on Wednesday expressed optimism of bumper harvests in the 2019 cropping season...
NUSA Says Inquest Into Murder Of Nigeria On June 20 Has Begun
Mr Sylvester Okonkwo, Chairman, Nigerian Union in South Africa (NUSA) in Kwa-Zulu-Natal Province, on Wednesday confirmed that yet another Nigerian,...
Sanwo-Olu At 54: Blessing To Generation – APC Women Leader
The All Progressives Congress (APC) Women Leader in Lagos State, Mrs Jumoke Okoya-Thomas, has described the state Gov. Babajide Sanwo-Olu...
Nigerian Business Mogul Says Africa Has Potential To Be Developed
Mr Ekos Akpokabayen, a South Africa-based Nigerian entreprenuer and author, says Africa has the potential to be in the status...
ENTERTAINMENT22 hours ago
‘Don’t Link Me With Helicopter Incidents At Ore’, Says Julian Osula
NEWS23 hours ago
10 Killed In Wukari High Way Road Blocks
COVER STORIES11 hours ago
Why I Dealt With Onnoghen – PMB
NEWS18 hours ago
Election Tribunal: Court Rules In Favour Of Governor Sani Bello
NEWS10 hours ago
Yobe Govt To Sponsor 700 Students For PhD, Masters, Others
POLITICS9 hours ago
PDP: Saraki To Lead Peace Move
CRIME10 hours ago
Apostle Bags 7-yr Jail Over Rape Of Minor
FOOTBALL23 hours ago
Super Eagles Protest Unpaid Bonuses