The Federal Government has reaffirmed its commitment to bridging Nigeria’s capital gap, expanding market access, and strengthening local production capacity, as part of a sweeping effort to reposition the country’s economy for sustainable growth and global competitiveness.
Speaking at the just concluded Domestic Investors Summit in Abuja, Jumoke Oduwole, Minister of Industry, Trade and Investment, stated that the summit was convened under the directive of President Bola Tinubu to serve as a strategic platform for Nigerian investors to co-create actionable solutions that would support the administration’s Renewed Hope Agenda and realise the vision of a $1 trillion economy by 2030.
“Our task now is straightforward: to operationalise our reforms through a Nigeria First policy that turns ambition into productivity, and productivity into competitiveness,” she said.
According to the minister, Nigeria is taking deliberate steps to improve the business environment by addressing financing bottlenecks, enhancing institutional collaboration, and boosting investor readiness.
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These actions, she said, are designed to make Nigerian enterprises more resilient and better equipped to scale both domestically and across African markets.
“As labour costs rise in East Asia, Nigeria is becoming a prime destination for global manufacturers seeking new production bases. We are upgrading infrastructure in Special Economic Zones (SEZs), simplifying trade procedures, and providing investor-ready platforms,” Oduwole noted.
The minister emphasised that the Government’s economic transformation strategy was built on three core pillars: Fiscal policy to restore trust and attract capital, Monetary policy to stabilize the naira and control inflation, and Trade policy to unlock global and regional market opportunities.
According to the minister, the objective of the summit is to demystify fiscal, monetary, industry, and trade reforms and how they shape Nigeria’s investment landscape.
To tackle the capital gap through practical dialogue on financing and institutional coordination, To expand market access domestically and across Africa to enable Nigerian firms to scale and compete effectively.
And to co-create a regulatory sandbox that ensures policy is shaped in partnership with the private sector.
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She further underscored the importance of policy continuity and private sector collaboration, stating that the Ministry would continue to work closely with development partners, financial institutions, and regional blocs to implement solutions that deliver quick and inclusive impact.
With President Tinubu’s Administration already removing fuel subsidies, unifying exchange rates, restoring fiscal discipline, and enacting far-reaching tax reforms, the minister believes Nigeria is at a pivotal economic turning point.
“This is not just about being open for business. Nigeria is poised to build businesses at home, utilising homegrown solutions, for the benefit of Nigerians.
“The Ministry will continue to work for the private sector, and in partnership with development partners and regional institutions to design and implement practice solutions that deliver impact quickly and inclusively,” the minister added
