The Federal Ministry of Industry, Trade, and Investment says it is focusing on export promotion, trade facilitation and digital transformation to boost Nigeria’s economy.
The Minister of Trade and Investment, Dr Jumoke Oduwole, said this at the Top Management Retreat of the ministry and its agencies on Tuesday in Abuja.
Oduwole, while speaking on the ministry’s progress after her 100-days in office, said that investment retention was a top priority, leading to engagements with Nigeria’s top 100 exporters in November.
According to her, this resulted in an action plan, including the approval of the National Single Window Project, aimed at streamlining trade processes.
“We started implementing that action plan, and I believe exporters can testify to the progress made, including improved trade facilitation.
“The ministry also played an active role in the World Trade Organisation (WTO) trade policy review, which highlighted global interest in Nigeria’s economy through over 400 inquiries from different countries.
“These inquiries are being analysed to refine Nigeria’s trade policies,” she said.
Oduwole said that the Federal Government had taken strategic steps to attract foreign investments with over 50 billion dollars in investment commitments from international engagements.
She said that these commitments were being pursued sector by sector to ensure that they translate into real economic benefits.
“International collaborations were also emphasised, with Nigeria’s participation in key global economic forums.
“The forums include the World Economic Forum in Davos, meetings with leaders from Germany and India, and the Africa Continental Free Trade Area (AfCFTA) ministerial engagements,”she said.
Oduwole reiterated Nigeria’s role as a “digital trade champion” under AfCFTA, focusing on service exports, including financial technology, telehealth, and outsourcing.
She said that the ministry was working to position Nigeria as a hub for business process outsourcing, leveraging the country’s English-speaking and tech-savvy youth population.
“Our goal is to create opportunities for Nigerian youth to earn foreign exchange without leaving the country.
“Other notable milestones include Nigeria’s bid to host the Afrexim International Trade Fair in 2027 and the AU MSME forum in 2025, both of which are expected to drive economic growth,” she said.
The minister assured Nigerians that the coming months would see intensified efforts in policy implementation, investment attraction, and industrial growth to enhance economic diversification.
