The Federal Government has successfully generated over $500 million in export revenue for 2025, according to Jumoke Oduwole, the Minister of Industry, Trade and Investment. This significant achievement is attributed to the ministry’s focus on industrial development and economic diversification.
A Robust Performance
Oduwole presented these findings during her appearance before the Senate Committee on Trade and Investment, where she defended the ministry’s proposed budget for 2026. She highlighted that the ministry’s initiatives have also resulted in the creation of more than 20,000 direct jobs, showcasing the positive impact on employment.
“The Nigeria Commodity Exchange has seen a remarkable increase, with traded volumes rising by over 500%,” Oduwole stated, emphasising the ministry’s commitment to enhancing market activity.
Strategic Partnerships and Policies
The minister further elaborated on the ministry’s efforts to establish a national trade and distribution company aimed at strengthening structured commodity trade and improving market access. Additionally, the Federal Executive Council approved the National Industrial Policy in November 2025, signifying a critical step towards industrial advancement.
In a historic move, the ministry launched Nigeria’s first-ever National Intellectual Property Policy, aligning it with the new national trade and distribution framework.
Fiscal Responsibility
Oduwole indicated that the ministry’s appropriation for 2025 totalled N11.8 billion, with personnel and overhead allocations fully utilised. However, she noted that, aside from a N3.8 billion capital allocation, no further funds have been released to date.
The revenue performance exceeded targets by approximately N100 million, with full remittance to the consolidated revenue fund. “We have maintained fiscal discipline through effective planning and accountable use of public resources,” she asserted.
Future Priorities
Looking ahead, Oduwole outlined the ministry’s 2026 priorities, which align with the national development plan and existing policy frameworks, including the Nigerian Trade Policy and Investment Policy. The focus will be on implementing industrial policy through targeted value chains, industrial cluster development, and the establishment of special economic zones.
“The emphasis will be on prioritising local production and non-oil exports,” she said, underscoring the ministry’s commitment to boosting domestic industries.
Engaging Investors
The minister affirmed that domestic investors would remain central to the government’s strategy, with global investors continuing to be engaged through trade missions and in-country investment visits. “We aim to deliver impact at the sub-national level through the National AFCFT Tour and structured zonal and state engagements that support local value chains,” she added.
To enhance transparency and coordination in trade and investment promotion, the ministry plans to roll out digital investor portals and trade intelligence tools.
Budgetary Needs
The proposed capital allocation for the ministry in 2026 stands at N2.72 billion. Oduwole acknowledged that, given the breadth of responsibilities and outlined execution priorities, this allocation may fall short of meeting the full demands of the ministry’s programmes and capital projects.
She called on the Senate Committee for support in enhancing the ministry’s capital allocation to ensure effective alignment with national development objectives.
Conclusion
In conclusion, the Minister of Industry, Trade and Investment’s report on the generation of $500 million in export revenue marks a significant milestone for Nigeria’s economic landscape. With a commitment to strengthening industrial development, expanding trade, and attracting investment, the ministry is poised to play a crucial role in driving economic growth across the Federation.
As the government continues to prioritise local production and engage with both domestic and international investors, the outlook for Nigeria’s trade and investment sector remains optimistic. The collaboration between the ministry and the Senate will be vital in achieving these ambitious goals as Nigeria strives for sustainable economic development.
