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From Ndubuisi Orji, Abuja
The Minister of Trade and Investment, Jumoke Oduwole, has said that the Federal Government will prioritise the expansion of non-oil exports in the 2026 fiscal year.
Oduwole, who stated this at a budget defence session with the House Committee on Trade, Industry and Small and Medium Scale Enterprises, said the plan is aimed at deepening the diversification of the economy.
The minister, while speaking on the achievements of the ministry in 2025, noted that Nigeria “recorded total capital importation of approximately $21 billion in the first ten months of 2025, up from about $12 billion in 2024 and under $4 billion in 2023.
“This recovery was supported by the ministry’s actions, including the curation of over $5 billion in bankable projects, sector-specific deal rooms, and Nigeria’s inaugural Domestic Investors’ Summit.
“On industrial development and diversification, special economic zones generated over $500 million in export revenues and created more than 20,000 direct jobs. We also secured the approval of the Federal Executive Council for the National Industrial Policy in November 2025.
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“These activities helped re-engage domestic capital and facilitated the resolution of about 50 investor bottlenecks, driving projects from intention to implementation.”
Furthermore, she stated that the country “recorded a trade surplus in 2025, with total trade valued at approximately ₦113 trillion in the first three quarters of the year.
“We are poised to strengthen Nigeria’s productive base, as we connect global and regional demand and capital with domestic supply capacity, in support of national development priorities.
“In 2026, the ministry will focus on implementation, advancing industrial policy through targeted value chain and industrial cluster development and special economic zones.”
The minister later told journalists that the government is committed to advancing “the Renewed Hope Agenda number seven, which is diversification of non-oil exports. Nigeria’s exports have already increased by 14 per cent compared to the rest of Africa and this is one of the highest we have ever achieved.
“Non-oil exports was the highest last year, gaining over $6 billion in terms of both volume and value. We’ve never had it so good. Export is the way to go. We have our agricultural products. All we have to do is to package them and push it to the rest of the world.”
