The Federal Government has reiterated its commitment to accelerating industrial growth, attracting investments and enhancing Nigeria’s trade competitiveness as part of efforts to drive economic transformation, create jobs and achieve sustainable development.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, stated this at the 17th National Council of the Ministry 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.
Oduwole said the administration had made significant progress in advancing its industrialisation agenda, citing more than 50 billion dollars in facilitated Foreign Direct Investment (FDI) commitments, 6.1 billion dollars in non-oil exports and the disbursement of over N600 billion through the Bank of Industry (BoI).
She added that more than 500,000 Micro, Small and Medium Enterprises (MSMEs) had been captured in the national database, while nearly 300,000 Nigerians had benefited from government-backed skills development programmes.
According to the minister, the milestones demonstrate the impact of President Bola Tinubu’s Renewed Hope Agenda and the country’s progress towards building a one-trillion-dollar economy.
She stressed that the ministry would continue to focus on converting ongoing economic reforms into higher production, increased exports, greater investment inflows and more employment opportunities.
Oduwole identified industrial clusters, expansion of manufacturing, investment facilitation, digital trade and the National Single Window project as key priorities of the government.
She also listed stronger protection of intellectual property rights and deeper participation in the African Continental Free Trade Area (AfCFTA) as strategic areas for economic growth.
The minister urged agencies under the ministry to ensure that resolutions reached at the council meeting are assigned clear responsibilities, timelines and measurable targets to guarantee effective implementation.
Also speaking, Enugu State Deputy Governor, Ifeanyi Ossai, called for concerted efforts to reduce the high cost of financing, remove regulatory bottlenecks and improve access to development finance.
He stressed the need for stronger collaboration among governments, financial institutions and the private sector to stimulate industrial expansion, attract investments and generate employment.
The Minister of State for Industry, Sen. John Enoh, reaffirmed the Federal Government’s commitment to implementing the Nigeria Industrial Policy 2025.
Enoh said the policy would prioritise affordable industrial financing, value addition, manufacturing growth and stronger public-private partnerships.
In his remarks, Enugu State Commissioner for Trade, Investment and Industry, Dr Samuel Ogbu-Nwobodo, highlighted reforms in infrastructure, security, digital governance and investment facilitation, saying they had strengthened the state’s position as an attractive destination for investors and industrial development.
The ministry’s Permanent Secretary, Dr Chris Isokpunwu, expressed appreciation to the Enugu State Government, development partners and delegates for supporting the council.
He expressed confidence that the meeting would produce actionable resolutions capable of accelerating industrialisation, expanding trade, attracting investment and promoting inclusive economic growth.
