The Federal Government has reaffirmed its commitment to accelerating industrial growth, attracting investment and strengthening Nigeria’s trade competitiveness as part of efforts to drive economic transformation, create jobs and promote sustainable development.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, made this known at the 17th National Council of the Ministry of Industry, Trade and Investment held in Enugu.
According to a statement issued on Thursday in Abuja by the ministry’s Head of Press and Public Relations, Mrs Augustina Obilor-Duru, the minister said Nigeria had recorded more than $50 billion in facilitated Foreign Direct Investment (FDI) commitments, underscoring the government’s renewed focus on industrialisation, investment promotion and trade competitiveness.
Oduwole said the country also achieved $6.1 billion in non-oil exports, while more than ₦600 billion had been disbursed through the Bank of Industry (BoI) to support businesses and economic growth.
She added that over 500,000 Micro, Small and Medium Enterprises (MSMEs) had been registered in the national database, while nearly 300,000 Nigerians had benefited from government-backed skills development programmes.
“These achievements are evidence of the Renewed Hope Agenda and progress toward building a one-trillion-dollar economy,” he said.
The minister said the ministry remained focused on translating ongoing economic reforms into increased production, higher exports, greater investment inflows and more employment opportunities.
She identified the development of industrial clusters, expansion of manufacturing, investment facilitation, digital trade and the implementation of the National Single Window as key priorities for the government.
Oduwole also highlighted stronger intellectual property protection and deeper participation in the African Continental Free Trade Area (AfCFTA) as strategic priorities for enhancing Nigeria’s economic competitiveness.
She urged all implementing agencies to ensure that resolutions reached at the council meeting are backed by clear ownership, defined timelines and measurable outcomes.
Also speaking, the Deputy Governor of Enugu State, Ifeanyi Ossai, called for concerted efforts to address high financing costs, regulatory bottlenecks and limited access to development finance.
Ossai stressed the need for stronger collaboration among governments, financial institutions and the private sector to accelerate industrial growth, attract investment and create employment opportunities.
The Minister of State for Industry, Sen. John Enoh, also reaffirmed the Federal Government’s commitment to implementing the Nigeria Industrial Policy 2025.
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