Nigeria’s Domestic Investment Summit Accelerates Path to $1 Trillion Economy with “Nigeria First” Policy

Abuja, Nigeria:

The Federal Government of Nigeria, in a move described as decisive, aimed at transforming ambition into reality, convened a landmark Domestic Investment Summit in Abuja on Monday, 21 July 2025.

The Investment Summit, according to Dr. Adebayo Thomas, Director Press and Public Relations of the Federal Ministry of Industry, Trade and Investment in a statement, "unveiled comprehensive strategies under the “Nigeria First” Policy to achieve a $1 trillion economy by 2030. Hosted by the Ministry of Industry, Trade and Investment and anchored on the Eight-Point Renewed Hope Agenda, the summit galvanized domestic investors and culminated in over $50 billion in new commitments.

Operationalising the Nigeria First Policy

Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, opened the summit by underscoring the critical role of targeted reforms across industrialisation, digitisation, creative industries, manufacturing, and innovation. “The Nigeria First Policy is how we will actualise President Tinubu’s vision, turning ambition into productivity and productivity into global competitiveness,” she declared.

Key early wins include:

* A 24.75 percent increase in non-oil exports in Q1 2025, reaching $1.79 billion.

* Inauguration of new textile parks, automotive plants, and food hubs within Special Economic Zones.

* Creation of substantial foreign-exchange savings and large-scale job opportunities, positioning Nigeria as the manufacturing hub for ECOWAS and Africa.

Bold 2025 Targets and Unlocked Commitments

At the summit, the Ministry reaffirmed its 2025 milestones:

* $6 billion in combined foreign direct and portfolio investments.

* $6.5 billion in non-oil exports.

* 20 percent growth in trade value.

* 200,000 export-led jobs.

“Through targeted roadshows and strategic engagements, we have already mobilised over $50 billion in investor commitments,” Dr. Oduwole highlighted, adding, “These partnerships strengthen investor confidence and reposition Nigeria as a credible, forward-looking investment destination.”

Collaborative Policy Co-Creation

President Bola Tinubu mandated that the summit serve as a focus-group session with domestic investors—the very engine of Nigeria’s economy. Attendees reviewed policy proposals, co-curated regulatory reforms, and set clear, actionable targets. The outcome: a roadmap to actualise the Renewed Hope Agenda and fast-track the $1 trillion goal.

Private-Public Synergy

Amb. Nura Rimi, Permanent Secretary of the Ministry, emphasised that “Nigeria First” is not a slogan but a declaration to prioritise local businesses, bolster indigenous capacity, and enhance regulatory and infrastructural frameworks. Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (represented by Dr. Blaise Ijebor), affirmed the summit’s role in forging a conducive monetary and risk-management environment to attract both domestic and regional investors.

Next Steps

The Ministry will sustain momentum by:

* Rolling out targeted investment roadshows across all six geopolitical zones.

* Deepening engagement with development partners and regional institutions.

* Launching rapid-impact public-private pilot projects in priority sectors.

About the Ministry of Industry, Trade and Investment

The Ministry drives Nigeria’s economic diversification, competitiveness, and inclusive growth through strategic policy design, investment facilitation, and targeted reforms across key sectors. It remains committed to delivering on the Renewed Hope Agenda and realising the nation’s $1 trillion economy vision.