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By Uche Usim
The Federal Ministry of Industry, Trade and Investment (FMITI) has outlined an audacious agenda to accelerate industrial growth, expand trade and attract more investments, as Nigeria seeks to deepen economic diversification and strengthen its position in regional and global markets.
Speaking at the ministry’s 2026 Top Management Retreat in Abuja on Monday, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the focus of government efforts had shifted from policy formulation to measurable economic outcomes, stressing the need for stronger implementation, collaboration and performance tracking across the ministry and its agencies.
Oduwole said the ministry recorded significant milestones in 2025, with total capital importation reaching approximately $21 billion within the first 10 months of the year, while non-oil exports exceeded $6.1 billion. She added that intra-African trade reached about N4.82 trillion in the first half of the year, reflecting growing momentum in Nigeria’s trade and investment landscape. According to her, more than 115,000 micro, small and medium enterprises (MSMEs) accessed grants, loans and trade finance through interventions coordinated by the Bank of Industry, the Nigerian Export-Import Bank (NEXIM) and the Nigerian Export Promotion Council (NEPC). She also highlighted the completion of Africa’s first comprehensive five-year review of the African Continental Free Trade Area (AfCFTA) implementation and Nigeria’s AfCFTA Achievements Report.
The minister said the ministry had sustained the momentum in 2026 through a series of initiatives aimed at improving trade facilitation, export competitiveness and investment inflows. These include the expansion of Nigeria’s export connectivity through the East and Southern Africa Air Cargo Corridor, progress on the National Single Window project and reforms targeted at improving intellectual property protection and support for exporters and domestic manufacturers.
She noted that the ministry was advancing several strategic agreements designed to open new markets and attract capital, including the Comprehensive Economic Partnership Agreement (CEPA), the Canada Investment Promotion and Protection Agreement (CIPA), the Economic and Trade Investment Partnership (ETIP), and bilateral trade and investment engagements with Benin Republic, Saudi Arabia and other partners.
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Oduwole disclosed that the ministry’s average quarterly performance under the Central Delivery Coordination Unit framework had improved from about 30 per cent to 75 per cent, underscoring what she described as a growing culture of accountability and results-driven governance.
She identified four priority pillars for the ministry’s 2026 agenda: expanding access to regional and global markets, strengthening domestic industrial capacity, mobilising strategic investments and leveraging data, artificial intelligence and digital infrastructure to improve decision-making and service delivery.
The minister said Nigeria would deepen implementation of AfCFTA, improve export logistics and support more businesses to access international markets. She added that the country would host AfCFTA Week 2026 from June 29 to July 2, featuring the UNDP HerAfCFTA Regional Conference, the AfCFTA Council of Ministers Meeting and the Digital Trade Forum. Nigeria is also expected to assume the chairmanship of the AfCFTA Council of Ministers.
Oduwole further pledged increased support for priority sectors such as agro-processing, pharmaceuticals, textiles, manufacturing and strategic minerals, while calling for greater coordination among government institutions to ensure businesses, investors and exporters experience a more responsive and efficient operating environment.
She said the ministry’s ultimate objective remains creating sustainable jobs, boosting exports, attracting investment and delivering broad-based prosperity for Nigerians.
