Abuja: The Nigerian Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has reaffirmed the Federal Government’s commitment to accelerating non-oil exports as part of President Bola Ahmed Tinubu’s Renewed Hope 8-Point Agenda. Speaking at a panel session during the 31st Nigerian Economic Summit in Abuja, Dr. Oduwole said the ministry is working across several critical sectors to advance trade, investment, and export diversification, positioning Nigeria to take full advantage of the African Continental Free Trade Area (AfCFTA).
According to Voice of Nigeria, Dr. Oduwole emphasized that the Renewed Hope 8-Point Agenda includes Accelerating Non-Oil Exports as Item No. 7 and involves several pillar critical ministries, with the Federal Ministry of Industry, Trade and Investment acting as an enabler and facilitator. She explained that the ministry had reviewed Nigeria’s trade policies and relationships, identifying new strategic partners while strengthening ties with existing allies.
The Ministry’s 2025 Outlook document outlined key priorities, including investment mobilisation, trade policy reform, industrial policy enhancement, and driving export diversification. Highlighting recent achievements, Oduwole disclosed that Nigeria became the first country to complete and publicly release a five-year review of AfCFTA implementation, fulfilling a key requirement of the continental agreement.
She further mentioned the creation of a central coordination committee for AfCFTA to ensure clarity in the implementation roadmap, which she chaired and was inaugurated in the second quarter. Oduwole revealed that Nigeria submitted its schedule of tariffs to the AfCFTA Secretariat and has been recognized by the African Union as Digital Trade Co-Champion, with President Tinubu commended for his leadership in advancing digital trade on the continent.
The minister also announced the establishment of a Nigeria-Uganda Air Cargo Corridor, supported by the United Nations Development Programme (UNDP), to boost trade in goods such as apparel, light manufacturing, and cosmetics across 13 African countries. A Trade Intelligence Toolkit was developed to guide businesses, and trade through the Air Cargo Corridor has commenced.
On digital trade, Oduwole stated that the ministry conducted a survey in April revealing Nigerian tech companies’ interest in expanding into Ghana, Kenya, Rwanda, Egypt, and South Africa. Regulators from these countries recently met in Abuja with Nigerian counterparts to discuss frameworks for cross-border expansion and innovation sandboxes. Additionally, the government is negotiating new trade and investment partnerships with countries in the Gulf region and Brazil while revamping Nigeria’s free trade zones and tax infrastructure to attract private investment and facilitate industrial growth.