Federal Government Targets Agro-Led Growth and Financial Access for Small Businesses

Strategic Insights -

The Nigerian Federal Government is driving efforts to boost non-oil exports, focusing on agro-led growth and wider access to finance for small businesses. The Nigerian Export Import Bank (NEXIM) is set to hold a breakfast session with young entrepreneurs to discuss opportunities under the African Continental Free Trade Area (AfCFTA). The session is organized by the All Progressives Congress (APC) Youth Wing, and its National Youth Leader, Dayo Israel, will emphasize the importance of empowering youths with knowledge on funding, market access, and opportunities for non-oil exports. This initiative aligns with President Bola Tinubu's Renewed Hope Agenda to diversify Nigeria's economy and reduce reliance on oil.

Key Takeaways:

  • The Federal Government is prioritizing agro-led growth and non-oil exports to reduce reliance on oil and expand revenue.
  • NEXIM Managing Director, Abubakar Bello, will address a breakfast session organized by the APC Youth Wing, focusing on access to finance for SMEs and agricultural value chains.
  • The initiative is aligned with President Bola Tinubu's Renewed Hope Agenda, aimed at expanding Nigeria's economy and creating more local jobs.
  • The agenda also focuses on providing information to entrepreneurs on accessing funding and technical support to enable them to compete globally.
  • The APC Youth Wing has hosted high-level sessions with government officials, including Communications Minister Bosun Tijani and Sports Commission Chairman Shehu Dikko, to mobilize youths for national development.
  • The initiative aims to integrate Nigerian youths into global markets and support businesses to expand globally.
  • The session will focus on strategies for expansion, NEXIM's role in promoting agro-led growth, and access to finance for SMEs.

Statistics:

  • There is no specific statistical information provided in the article on the projected non-oil export growth figures or the expected number of small businesses to benefit from the initiative.
  • The article does not provide data on the number of entrepreneurs expected to participate in the breakfast session.
  • No specific timeframes or dates are provided for the implementation of the Renewed Hope Agenda or the target timeline for expanding non-oil exports.

Sources:

  • Daily Trust, 29 Aug 2025
  • Nigeria's Renewed Hope Agenda, as mentioned in the article