The Federal Ministry of Industry, Trade and Investment (FMITI) has outlined an ambitious roadmap to accelerate industrialisation, expand trade, attract strategic investments and position Nigeria towards achieving a $1 trillion economy.
This was the focus of the Ministry’s 2026 Top Management Retreat held in Abuja from June 22 to 23, themed “From Policy to Performance: Driving Industrial Growth, Trade Expansion and Investment Outcomes.”
Speaking at the retreat, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the Ministry was shifting its focus from policy formulation to measurable economic outcomes that would drive growth, job creation and economic diversification.
She highlighted key achievements recorded in 2025, including about $21 billion in capital importation, over $6.1 billion in non-oil exports, expanded intra-African trade and support for more than 115,000 Micro, Small and Medium Enterprises (MSMEs) through grants, loans and trade finance interventions.
According to the minister, the Ministry also completed Africa’s first comprehensive five-year review of the implementation of the African Continental Free Trade Area (AfCFTA), while advancing reforms in export connectivity, investment facilitation, intellectual property administration and support for exporters and manufacturers.
Looking ahead, Oduwole unveiled a four-pronged strategy for 2026 centred on expanding demand for Nigerian products and services, strengthening domestic industrial capacity, attracting strategic investments and leveraging data, artificial intelligence and digital infrastructure to improve service delivery.
She stressed the need for stronger coordination among the Ministry and its agencies to deliver more efficient support to businesses, investors and exporters.
The minister further disclosed that since 2024, the Ministry has recorded an 11 per cent increase in non-oil exports, attracted over $6 billion in investment inflows and secured more than $50 billion in investment announcements. She added that early gains from the newly approved Nigeria Industrial Policy were already beginning to emerge.
“These efforts are critical to driving industrialisation, economic diversification, job creation and Nigeria’s long-term ambition of building a $1 trillion economy,” she said.
Minister of State for Industry, Senator John Owan Enoh, described the retreat as a strategic platform for reflection, alignment and renewed commitment to delivering tangible economic results.
He revealed that the Ministry had adopted a 90-day implementation reporting cycle to strengthen accountability, noting that the first progress report had already been completed.
Owan Enoh said successful policy implementation would depend on investments, technology, infrastructure, financing, innovation, standards, skills development and effective collaboration among stakeholders.
He noted that the Industrial Policy Implementation Matrix prioritises industrial growth, MSME development, employment and skills, financing and investment, export competitiveness, sustainability, regional trade integration, energy, infrastructure and security.
According to him, progress would ultimately be measured by increased production, higher exports, reduced imports, stronger investor confidence and job creation.
Permanent Secretary of the Ministry, Dr. Chris Osa Isokpunwu, emphasised that citizens evaluate government performance through outcomes rather than policies.
He said the Ministry’s success must be reflected in industrial growth, increased investments, expanded exports, improved trade facilitation and employment generation.
Isokpunwu commended the leadership of the Minister and Minister of State for advancing Nigeria’s industrialisation agenda and supporting the Federal Government’s Renewed Hope Agenda.
He also identified key priorities including implementation of the Nigeria Industrial Policy, promotion of domestic manufacturing, MSME development, investment promotion, intellectual property administration and effective implementation of AfCFTA.
The Permanent Secretary explained that the retreat was designed to review performance, align strategies across the Ministry and its agencies, identify implementation challenges and strengthen collaboration to accelerate results delivery.
Representatives of development partners and the legislature also pledged support for the Ministry’s objectives.
The United Nations Industrial Development Organisation (UNIDO), represented by Dr. Reuben Bamidele, reaffirmed its commitment to supporting Nigeria’s industrialisation agenda through the Nigeria Country Partnership Programme.
Similarly, Oluwafemi Ajibabi, representing the Chairman of the Senate Committee on Industries, pledged legislative and oversight support to promote industrial competitiveness, innovation and private sector participation.
Also speaking, Director of Policy, Planning, Research and Statistics, Mrs. Iya Ibrahim Gamawa, said the Ministry’s 2026 performance cycle would be driven by a governance framework focused on accountability, measurable results and service excellence.
She noted that strategic initiatives such as the National Industrial Policy, National Trade Policy, AfCFTA implementation, ease-of-doing-business reforms and SME development programmes were expected to boost industrial output, strengthen value chains, attract investments, create jobs and expand market opportunities.
Gamawa called for stronger alignment between national priorities, ministerial objectives, budgets and performance systems to ensure the delivery of measurable results in 2026.
The retreat ended with a renewed commitment by FMITI leadership to prioritise execution, innovation and accountability in driving Nigeria’s economic transformation and achieving the Federal Government’s vision of a $1 trillion economy.
