Abuja: The Federal Government has expressed commitment to boost non-oil exports, attract quality investment to position Nigerian enterprises for economic growth. Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, made the commitment at the Domestic Investment Summit, with a theme, ‘Operationalising Nigeria First Policy’.
According to News Agency of Nigeria, Oduwole stated that the summit focused on the pivotal role of local capital, enterprise, and innovation in strengthening Nigeria’s economic resilience, inclusiveness, and global competitiveness. She emphasized the objective of the summit was to deepen public-private collaboration on investment incentives and regulatory co-creation.
The minister highlighted ongoing actions that reinforce the ministry’s commitment to boosting non-oil exports and positioning Nigerian enterprises to thrive domestically and globally. She noted that Nigeria is leveraging its strengths and executing deliberate policies to seize opportunities, aiming to lead in Africa’s industrial landscape and potentially position among the top 10 globally in select sectors.
Oduwole elaborated on the ministry’s efforts in harmonizing the tariff regime with industrial priorities and simplifying trade procedures to enhance competitiveness. She mentioned Nigeria’s progress in trade reform, including the recent completion of the World Trade Organisation (WTO) Trade Policy Review, as part of advancing the modernisation of the trade framework.
The minister further noted that Nigeria has accelerated the implementation of the African Continental Free Trade Area (AfCFTA), providing entrepreneurs access to a $3.4 trillion integrated market. She proudly stated that Nigeria was the first country to complete the AfCFTA five-Year Implementation Review, offering investors infrastructure clarity and fiscal certainty.
The summit served as a platform for the government to listen, engage, and co-create inclusive economic transformation. Oduwole reiterated the ministry’s task of actualizing the commitment through a ‘Nigeria First’ policy to turn ambition into productivity and competitiveness.
In her closing remarks, Oduwole thanked the stakeholders, acknowledging their crucial role in Nigeria’s growth. She emphasized the importance of investing in trade, capital management, and various sectors including education and SME development for macroeconomic stability.
Mr. Jani Ibrahim, President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), also addressed the summit, describing it as a call to promote investment and stronger partnerships. He assured that the Organised Private Sector of Nigeria is committed to working with the government to deepen economic diversification and attract sustainable domestic investments that create jobs and shared prosperity.
