FG’s targets $15b investments, with new intellectual property policy
The Federal Executive Council (FEC) has approved four key policy initiatives aimed at attracting over $15b investments, strengthening the country’s intellectual property, digital trade, and service export sectors, in five years.
The new policies are projected to create one million decent jobs in the service export sector; add $10 billion annually to the GDP; train 10 million Nigerians for global service markets; and attract over $15 billion in investment to digital and creative industries, by 2030
This was contained in Statement on Saturday by the State House, Abuja.
The policy initiatives will leverage on the growing importance of the service economy, which accounts for over 50 percent of Nigeria’s GDP but less than 10 percent of exports, the Council approved the establishment of a National Coordination Mechanism for Services Exports to be led by the National Talent Export Programme (NATEP).
The mechanism is expected to harmonise existing government programmes such as the 3 Million Tech Talent (3MTT) initiative, Outsource to Nigeria Initiative (OTNI), and TechPro4Europe into a unified structure promoting Nigeria’s global competitiveness in professional, digital, and creative services.
