Abuja: The Federal Government has expressed determination to prioritise economic diversification, trade expansion and investment mobilisation to achieve measurable economic gains in 2026. The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, disclosed this at a management retreat for directors, directors-general, and chief executives of agencies under the ministry on Monday in Abuja.
According to News Agency of Nigeria, the retreat, themed ‘From Policy to Performance: Driving Industrial Growth, Trade Expansion and Investment Outcomes’, was organised to review the implementation of the Nigeria Industrial Policy (NIP). Oduwole said 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 stated that the NIP, unveiled by President Bola Tinubu, was Nigeria’s first comprehensive industrial framework aimed at re-engineering the country’s manufacturing base.
The minister highlighted the immediate responsibility of the ministry 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. The minister reported that total capital importation reached about 21 billion dollars within the first 10 months of 2025, and 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 emphasized that more than 115,000 Micro, Small and Medium Enterprises (MSMEs) accessed grants, loans and trade finance through government interventions delivered via the Bank of Industry, NEXIM Bank and the Nigerian Export Promotion Council. She noted 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, with improved investment facilitation, intellectual property reforms, and strengthened support for exporters and manufacturers.
The minister highlighted ongoing trade and investment agreements that 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, aiming for all programmes and partnerships to result in sustainable jobs, business growth and shared prosperity for Nigerians.
The Minister of State for Industry, Sen. John Enoh, stated that the NIP recognised that challenges vary across sectors, requiring tailored solutions for industries such as fertiliser production, rice processing and manufacturing. He outlined that implementation of the policy began with creating awareness and ownership among ministries, agencies, businesses, investors, manufacturers and sub-national governments. Enoh emphasized the importance of effective implementation through alignment of programmes and priorities across sectors and the establishment of a dedicated secretariat to coordinate implementation, reporting, stakeholder engagement, and compliance.
Dr. Reuben Bamidele, National Programme Officer, UNIDO, representing Amb. Philbert Johnson, Country Representative of UNIDO, pointed out that weak coordination between trade and industrial policies had slowed sustainable growth. He stressed the need for effective implementation and stronger linkages across sectors to achieve Nigeria’s economic transformation and long-term industrial development goals, advocating for stronger collaboration to drive inclusive industrialisation and investment.
Dr. Chris Isokpunwu, Permanent Secretary of the ministry, stated that the retreat would enable stakeholders to review the NIP, assess progress, identify challenges and develop practical solutions. Mr. Femi Ajibabi, Director and Clerk to the Senate Committee on Industry, reaffirmed legislative support for initiatives promoting industrial development, innovation, competitiveness and private sector participation.