The Federal Government has announced plans to intensify efforts to drive industrial growth, expand trade, attract investment and boost non-oil exports in 2026 as part of its economic diversification agenda.
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, disclosed this during a management retreat for directors-general, directors and chief executives of agencies under the ministry.
The retreat, themed “From Policy to Performance: Driving Industrial Growth, Trade Expansion and Investment Outcomes,” was convened to review the implementation of the Nigeria Industrial Policy (NIP), Nigeria’s first comprehensive industrial framework designed to strengthen the country’s manufacturing sector.
Oduwole said the ministry’s priority is to translate policy initiatives into measurable economic outcomes through effective implementation, stronger inter-agency collaboration and improved performance monitoring.
She noted that the retreat would assess progress made under the Nigeria Industrial Policy while strengthening accountability across agencies, adding that previous policy initiatives often failed at the implementation stage.
“Our immediate responsibility is to convert policy direction into tangible results through effective execution, inter-agency collaboration and rigorous performance monitoring,” the minister said.
Highlighting achievements recorded in 2025, Oduwole said policy alignment across trade, investment and industry contributed significantly to economic growth.
According to her, total capital importation reached about $21 billion within the first 10 months of 2025, while non-oil exports exceeded $6.1 billion, reflecting sustained efforts to diversify Nigeria’s export base.
She added that intra-African trade rose to approximately ₦4.82 trillion in the first half of 2025, driven by expanding opportunities under the African Continental Free Trade Area (AfCFTA).
The minister further disclosed that more than 115,000 Micro, Small and Medium Enterprises (MSMEs) benefited from grants, loans and trade finance provided through interventions by the Bank of Industry, the Nigerian Export-Import Bank (NEXIM) and the Nigerian Export Promotion Council (NEPC).
Oduwole also revealed that Nigeria successfully completed Africa’s first comprehensive five-year review of the implementation of the AfCFTA, describing it as a demonstration of the country’s leadership in regional trade integration.
She added that progress has continued in 2026 with improved export connectivity, enhanced investment facilitation, strengthened intellectual property reforms and increased support for exporters and manufacturers.
According to the minister, ongoing trade and investment agreements are expected to open new export markets, attract both foreign and domestic investments, and deepen Nigeria’s participation in global value chains.
