By Joy Baba-Yesufu, Abuja
The Federal Ministry of Industry, Trade, and Investment has reaffirmed its commitment to driving Nigeria’s economic diversification, aligning with President Bola Tinubu’s eight-point agenda to boost industrial growth and investment.
At a high-level retreat in Abuja on Monday, Minister Dr. Jumoke Oduwole outlined key measures aimed at strengthening industrialization, manufacturing, and innovation.
She emphasized that the ministry is working closely with the Federal Ministry of Finance and the Central Bank of Nigeria (CBN) to synchronize fiscal and monetary policies, ensuring a stable and conducive economic environment.
“We have commenced a new chapter in driving Nigeria’s economic diversification by implementing strategic policies and initiatives that will strengthen our industrial base and foster innovation,” Dr. Oduwole stated.
She added that the ministry’s efforts are focused on enabling businesses to thrive in domestic, regional, and global markets, creating a dynamic and resilient economy.
Senator John Owan Enoh, the Minister of State for Industry, Trade, and Investment, highlighted the importance of the retreat in addressing Nigeria’s economic challenges.
“This is not just a retreat; it is a defining mission. We are here not merely to discuss problems but to deliver solutions. Our responsibility is immense: How do we transition from an import-dependent economy to an innovation-driven industrial hub? The time for action is now,” he asserted.
The retreat focused on several key areas, including:scaling up industrialization and expanding trade opportunities,enhancing investment policies to attract local and foreign investors,developing a sustainable ecosystem for manufacturing, SMEs, and export-driven industries and policy Implementation and Economic Transformation.
Dr. Oduwole assured stakeholders that ongoing reforms would improve the ease of doing business in Nigeria, encouraging investment and economic expansion.
“We have repositioned ourselves to deliver impactful, verifiable policies and reforms that drive transparency and efficiency. This strategic approach has significantly improved the ministry’s performance in 2024,” she noted.
Ambassador Nuru Abba Rimi, Permanent Secretary of the Ministry, emphasized the importance of aligning economic strategies with President Tinubu’s vision.
“This retreat is a platform for reflection, innovation, and execution. Our goal is to craft a growth model that fosters industry expansion, technological innovation, and economic resilience,” he said.
