Government is also revamping the cotton, textile and garment sector via a CBN Textile Revival Intervention Fund that would considerably reduce foreign exchange spent on cotton and other textile imports.
This development is due to the Visa on Arrival policy, consistent promotion of initiatives that expand facilities available to Micro Small and Medium Scale Enterprises, robust electronic registration and payment system, seamless processing of business registration and reduction of cost of registering business by 50%.
We are executing some critical projects through the Transmission Rehabilitation and Expansion Programme including the:
a. Alaoji to Onitsha, Delta Power Station to Benin and Kaduna to Kano;
b. 330kv DC 62km line between Birnin Kebbi and Kamba;
c. Lagos/Ogun Transmission Infrastructure Project;
d. Abuja Transmission Ring Scheme; and
e. Northern Corridor Transmission Project.
On transportation, another critical sector to improving our economic competitiveness, we are growing the stock and quality of our road, rail, air and water transport infrastructure.
For the first time in over ten years, Nigeria is conducting bidding process for 57 Marginal Oil Fields to increase revenue and increase the participation of Nigerian companies in oil and exploration and production business.
