Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, says that the government is determined to prioritise economic diversification, trade expansion and investment mobilisation to achieve measurable economic gains in 2026.
Speaking at a management retreat for directors-general, directors and chief executives of agencies under the ministry of Industry, Trade and Investment,on Monday in Abuja, Oduwole said that the objective of the retreat was to review the NIP’s implementation and ensure accountability, noting that past efforts had struggled during the execution phase.
She said that the NIP, unveiled by Nigerian President Bola Tinubu, was Nigeria’s first comprehensive industrial framework aimed at re-engineering the country’s manufacturing base.
According to the minister, the immediate responsibility of the ministry is to translate policy direction into tangible results through stronger implementation, collaboration and performance monitoring.
She noted that Nigeria recorded significant achievements in 2025 when trade, investment and industrial policies were aligned toward common national objectives.
“Total capital importation reached about 21 billion dollars within the first 10 months of 2025.
“Non-oil exports exceeded 6.1 billion dollars during the period, reflecting growing diversification efforts, while intra-African trade reached approximately N4.82 trillion in the first half of 2025.”
Oduwole said that over 115,000 Micro, Small and Medium Enterprises (MSMEs) accessed grants, loans and trade finance through government interventions were delivered through the Bank of Industry, NEXIM Bank and the Nigerian Export Promotion Council.
She disclosed that Nigeria produced Africa’s first comprehensive five-year review of the African Continental Free Trade Area (AfCFTA) implementation.
According to her, progress has continued in 2026 through expanded export connectivity and stronger implementation of the AfCFTA.
“Investment facilitation has improved, while intellectual property reforms and support for exporters and manufacturers have been strengthened,” she said.
The minister said that the ongoing trade and investment agreements would open new markets, attract capital and strengthen Nigeria’s position in global value chains.
She added that the ministry’s 2026 outlook would focus on industrial growth, trade expansion, investment mobilisation and increased non-oil exports.
“All programmes and partnerships must translate into sustainable jobs, business growth and shared prosperity for Nigerians,” she added.
The retreat, which has the theme ‘From Policy to Performance: Driving Industrial Growth, Trade Expansion and Investment Outcomes’, was organised to review the implementation of the Nigeria Industrial Policy (NIP).
GIK/APA