By Joy Baba-Yesufu
The 16th edition of the National Council on Industry, Trade, and Investment (NCITI) convened in Lagos this week, bringing together key stakeholders across federal, state, and private sectors with a common resolve to reposition Nigeria’s economy through coordinated industrialisation, trade facilitation, and investment growth.
Presiding over the Council, Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, declared the theme — “Accelerating Diversification by Leveraging Industry, Trade and Investment for Shared Prosperity” as a call to action, urging stakeholders to shift from policy rhetoric to strategic implementation.
“Our goal is to evolve from a mono-product economy into a diversified, technology-driven, and inclusive industrial hub,” she stated. That transition demands cross-sectoral coordination, capital access for MSMEs, and the activation of digital trade infrastructure under AfCFTA.”
Minister of State, Senator John Owan Enoh, echoed the urgency of moving beyond paper policies while announcing the formation of the Industrial Revolution Work Group (IRWG), co-chaired by the President of the Manufacturers Association of Nigeria (MAN), to address critical barriers to industrial development.
The Lagos State Government, represented by Dr. Aina Olugbemiga Ayola, reaffirmed its commitment to national growth, citing Lagos’ role as a beacon of enterprise and innovation.
75 Memoranda Considered, 31 Actionable Resolutions Adopted
In a technical session summary, Ambassador Nura Abba Rimi, Permanent Secretary of FMITI, noted that 75 memoranda were submitted — with 31 identified for immediate implementation across areas such as MSME support, infrastructure, digital trade, and export competitiveness.
The Council charged all relevant MDAs and development partners to work in synergy with the private sector, with clear deliverables tied to national economic goals. It also underscored the critical role of data governance, broadband expansion, and inter-agency cooperation in achieving inclusive and sustainable development.
Never miss a moment! Get the stories shaping Nigeria, delivered straight to your phone. Follow Peoplesdaily Newspaper on WhatsApp for breaking news, exclusive reports, and the headlines everyone will be talking about, before anyone else.
