The Federal Government has unveiled a renewed strategy to accelerate Industrial Growth Nigeria in 2026 by strengthening trade, attracting investment and increasing non-oil exports as part of its broader economic diversification agenda. The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, announced the plan during a management retreat attended by 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,” reviewed progress on implementing the Nigeria Industrial Policy (NIP), which the ministry describes as the country’s first comprehensive framework for rebuilding the manufacturing sector.
Oduwole said the government is prioritising effective implementation to ensure economic policies deliver measurable results. “Our immediate responsibility is to convert policy direction into tangible results through effective execution, inter-agency collaboration and rigorous performance monitoring,” she said.
According to the minister, previous policy initiatives often faced challenges during implementation. She noted that the retreat was designed to strengthen accountability and improve collaboration among agencies responsible for executing government programmes.
Highlighting achievements recorded in 2025, Oduwole said coordinated policies across trade, industry and investment contributed to notable economic progress. She disclosed that total capital importation reached about $21 billion during the first 10 months of 2025.
The minister also said non-oil exports exceeded $6.1 billion, reflecting continued efforts to diversify Nigeria’s export earnings beyond crude oil. In addition, intra-African trade rose to approximately ₦4.82 trillion during the first half of 2025, supported by opportunities created under the African Continental Free Trade Area (AfCFTA).
As part of the government’s support for businesses, more than 115,000 Micro, Small and Medium Enterprises (MSMEs) accessed grants, loans and trade finance through interventions by the Bank of Industry, NEXIM Bank and the Nigerian Export Promotion Council. These initiatives are expected to further strengthen Industrial Growth Nigeria by improving access to financing for businesses.
Oduwole said Nigeria also completed Africa’s first comprehensive five-year review of AfCFTA implementation, describing it as a significant milestone that reinforces the country’s leadership in regional trade integration. She added that progress has continued in 2026 through improved export connectivity, stronger investment facilitation, enhanced intellectual property reforms and increased support for manufacturers and exporters.
According to the minister, ongoing trade and investment agreements are expected to unlock new export opportunities, attract both domestic and foreign investments, and deepen Nigeria’s participation in global value chains. The Federal Government said sustained collaboration among relevant agencies and stronger performance monitoring will remain central to achieving its economic objectives. Officials believe these measures will support Industrial Growth Nigeria, create more business opportunities and expand the country’s role in regional and international trade.
