The Federal Government has expressed commitment to boost non-oil exports, attract quality investment to position Nigerian enterprises for economic growth.
Dr Jumoke Oduwole, Minister of Industry, Trade and Investment, made the commitment at the Domestic Investment Summit, on Monday in Abuja, with a theme, “Operationalising Nigeria First Policy,’’.
Oduwole said that the summit focused on the pivotal role of local capital, enterprise, and innovation in strengthening Nigeria’s economic resilience, inclusiveness, and global competitiveness.
According to her, the objective of the summit was to deepen public-private collaboration on investment incentives and regulatory co-creation.
“The actions reinforce the ministry`s commitment to boosting non-oil exports, attracting quality investment, and positioning Nigerian enterprises to thrive at home, regionally and globally.
“We are already acting on our commitment. Nigeria is not starting from zero; we are already leveraging our strengths and executing deliberate policies to seize clear opportunities before us.
“Nigeria is already demonstrating the fundamentals to lead in Africa’s industrial landscape and with the proper execution; we can cement a position among the top 10 globally in select industrial sectors,’’ she said.
Oduwole said the ministry was harmonising the tariff regime with industrial priorities and simplifying trade procedures to reduce costs and enhance competitiveness.
She said that Nigeria was leading a strong way in trade reform, adding that the ministry just concluded the World Trade Organisation (WTO) Trade Policy Review.
She said that the effort was to advance the modernisation of trade framework in line with global best practices.
The minister noted that the ministry had accelerated Nigeria’s implementation of African Continental Free Trade Area (AFCFTA), giving entrepreneurs access to a $3.4 trillion dollars integrated market.
“Proudly we were the first country to complete the AfCFTA five-Year Implementation Review.
“We are providing the infrastructure clarity and fiscal certainty investors demand,” Oduwole said.
She said that the summit was a platform where the government listened, engaged and co-creates inclusive, sustainable economic transformation.
She added that the ministry`s task was to actualise the commitment through a Nigeria first policy that turns ambition into productivity, and productivity into competitiveness.
The minister, however, thanked all the stakeholders, adding that the stakeholders were the heart and hope of Nigeria’s growth.
According to her, to every company here today: we see you. We value you. You are the builders of jobs, innovation, and resilience.
“This summit was designed with you in mind. You are central to our strategy. Together, we must invest in trade and capital management.
“We must invest in financial sector development, education: skills inclusion: Nano, micro and SME’s , women and above all, macroeconomic and institutional stability,” she said.
Speaking, Mr Jani Ibrahim, President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said the summit was a call to take action to promote investment.
“A call for stronger partnerships, strategic collaboration, and collective ownership of Nigeria’s economic future.”
He said the Organised Private Sector of Nigeria was committed to working with the government and relevant stakeholders to deepen economic diversification and attract sustainable domestic investments that create jobs and shared prosperity.
