Abuja: The Federal Government has expressed its commitment to boosting non-oil exports and attracting quality investments to position Nigerian enterprises for economic growth. Dr. Jumoke Oduwole, the Minister of Industry, Trade and Investment, announced this commitment at the Domestic Investment Summit in Abuja. The event, themed 'Operationalising Nigeria First Policy,' highlighted the pivotal role of local capital, enterprise, and innovation in strengthening Nigeria's economic resilience, inclusiveness, and global competitiveness.
According to News Agency of Nigeria, the summit's objective was to deepen public-private collaboration on investment incentives and regulatory co-creation. Dr. Oduwole emphasized that the ministry is focused on reinforcing its commitment to boosting non-oil exports, attracting quality investments, and enabling Nigerian enterprises to thrive both domestically and internationally. She stated that Nigeria is leveraging its strengths and executing deliberate policies to seize opportunities, aiming to lead in Africa's industrial landscape and secure a position among the top 10 globally in select industrial sectors.
Dr. Oduwole mentioned that the ministry is working on harmonizing the tariff regime with industrial priorities and simplifying trade procedures to reduce costs and enhance competitiveness. Nigeria is making significant strides in trade reform, recently completing the World Trade Organisation (WTO) Trade Policy Review, which aims to modernize the trade framework in line with global best practices. The minister also noted that Nigeria has accelerated its implementation of the African Continental Free Trade Area (AfCFTA), providing entrepreneurs access to a $3.4 trillion integrated market.
Highlighting the importance of infrastructure clarity and fiscal certainty for investors, Dr. Oduwole expressed pride in Nigeria being the first country to complete the AfCFTA Five-Year Implementation Review. She described the summit as a platform for government engagement and co-creation of inclusive, sustainable economic transformation. The minister reiterated the ministry's task of actualizing the commitment through a Nigeria first policy that transforms ambition into productivity and productivity into competitiveness.
Mr. Jani Ibrahim, President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), also spoke at the summit, emphasizing the need for stronger partnerships and strategic collaboration to promote investment and ensure collective ownership of Nigeria's economic future. He assured that the Organised Private Sector of Nigeria is committed to working with the government and relevant stakeholders to deepen economic diversification and attract sustainable domestic investments that create jobs and shared prosperity.