FG URGES INVESTMENT IN YOUTH, LOCAL INDUSTRIES TO BOOST NIGERIA’S ECONOMY

The Federal Government has urged businesses and investors to support youth development, small enterprises and technology to help Nigeria produce more finished goods and create jobs.

Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, made the call during a panel discussion at the 32nd Nigerian Economic Summit.

He said Nigeria needed stronger cooperation between government and the private sector to build industries that process local raw materials and compete in regional and international markets.

In a statement issued on Tuesday by his media aide, Raphael Oni, the minister stressed that government alone could not provide all the funding needed to grow the economy.

He called for investment from Nigerian businesses as well as foreign investors, saying both were essential to expanding industries and improving living standards.

Enikanolaiye described Nigeria’s youthful population as a major strength. He said investment in education, practical skills, technology, innovation and entrepreneurship could help young people find work and build businesses.

He also highlighted the importance of supporting small and medium-sized enterprises to increase incomes and create more employment opportunities.

On foreign policy, the minister said Nigerians’ welfare and prosperity remained central to the government’s international engagements. He explained that its approach prioritised demography, development, democracy and the diaspora.

According to him, democratic governance must deliver practical economic benefits that citizens can feel in their daily lives.

Enikanolaiye also said improving economic stability would help businesses plan and make investment decisions with greater confidence. He maintained that inflation was declining and key economic conditions were becoming more stable.