Nigeria Reaffirms Commitment to Wealth and Employment Growth

The Nigerian government has reiterated its commitment to fostering wealth creation, generating productive employment, and ensuring shared prosperity for all citizens.

The Minister of Industry, Trade, and Investment, Jumoke Oduwale, made this declaration during a high-level management retreat in Abuja. The retreat focused on the presentation of the ministry’s 2025 Roadmap, themed “Accelerating Diversification to Rebuild Prosperity by Leveraging Industry, Trade, and Investment.”

Oduwale emphasised that the government remains dedicated to economic diversification and sustainable growth, leveraging key sectors to drive industrialisation, trade expansion, and investment opportunities.

Oduwale stated that as the year begins, the ministry is committed to delivering measurable impact with renewed energy and determination.

According to her, “99 days ago, the Federal Ministry of Industry, Trade, and Investment commenced a new chapter in driving Nigeria’s economic diversification by implementing targeted policies and reforms to accelerate industrialisation, digitisation, creative arts, manufacturing, and innovation.

“The quick wins are already being accomplished by ensuring coordination and synergy in the administration’s fiscal and monetary policies, in collaboration with the Federal Ministry of Finance and the central bank to strengthen trade policy implementation and avoid unintended consequences in the economy.

“As a ministry, we prioritise creating a dynamic, resilient and sustainable economy by positioning the private sector for productivity and competitiveness and enabling businesses to take full advantage of the vast opportunities available in domestic, regional, and global markets.”

The Minister of State, Nigerian Minister of Industry, Trade, and Investment, Sen. John Enoh, stated in the year 2025 and beyond that the ministry and its agencies are charged with a mission to accelerate industrialisation and rebuild the prosperity the country needs.

“The ministry has already released its 2025 outlook, and I think that outlook was deliberate to align that outlook to the deliberate goals envisioned by the renewed hope agenda.

“How do we take our country from, you know, dependence to diversification? How do we take our country from stagnation to induction? How do we take our country to a climate in which we are as competitive as we can be? I think that, you know, it’s important. And in terms of all of these goals and challenges, I think that all of us that are in this room have that responsibility,” he added.

Speaking, the Director General of the Presidential Enabling Business Environment Council, PEBEC, Zahrah Audu, says the council has over the years delivered over 200 verifiable reforms across various sectors, noting that it is time to enforce some of those reforms as it relates to ease doing business in Nigeria.

“Some of our key areas of concern include regulatory reforms, which is the streamlining of regulatory processes to make it easier for businesses to thrive in Nigeria; and subnational reforms. Pebec gives support to state governments to implement business-friendly reforms.

“Our legislative and judicial reforms have seen the adoption and operationalisation of small claims courts in 33 states. This small claims court works on resolving commercial disputes swiftly and affordably.”

She added that PEBEC is ready to collaborate with the Ministry and agencies under the Ministry in creating a stable business environment for foreign and local businesses.