FMITI Seals 2026 Performance Pact, Targets Faster Industrial Growth, Investment Drive

 

"The 2026 Strategic Performance Contract represents a collective commitment to delivering priority initiatives that will strengthen industrial development, improve trade competitiveness and increase investment inflows." Oduwole 

..... Reaffirms the Ministry's resolve to translate policies into measurable outcomes through stronger coordination, effective programme implementation and closer collaboration with stakeholders in both the public and private sectors.

The Federal Ministry of Industry, Trade and Investment (FMITI) has signed a 2026 Strategic Performance Contract with the heads of its agencies and senior management, setting the stage for a renewed push to accelerate industrialization, expand trade, attract investments and support Nigeria's ambition of building a $1 trillion economy.

The performance pact was signed at the close of the Ministry's 2026 Top Management Retreat in Abuja, where participants also adopted a communiqué outlining key priorities and implementation strategies aimed at improving service delivery, boosting exports, strengthening investment facilitation and enhancing industrial competitiveness.

Speaking at the conclusion of the two-day retreat, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, described the exercise as a significant step towards entrenching accountability and results-driven governance across the Ministry and its agencies.

She said the retreat provided an opportunity for strategic reflection and alignment, stressing that the Ministry remains central to Nigeria's economic transformation, job creation and improved livelihoods.

According to the Minister, the 2026 Strategic Performance Contract represents a collective commitment to delivering priority initiatives that will strengthen industrial development, improve trade competitiveness and increase investment inflows.

Oduwole reaffirmed the Ministry's resolve to translate policies into measurable outcomes through stronger coordination, effective programme implementation and closer collaboration with stakeholders in both the public and private sectors.

Minister of State for Industry, Senator John Owan-Enoh, said the success of Nigeria's industrial agenda would be measured by higher productivity, stronger local industries, sustained export growth and increased investor confidence.

Permanent Secretary of the Ministry, Dr. Chris Osa Isokpunwu, urged departments and agencies to align their programmes, budgets and performance targets with national development priorities, emphasising that accountability, effective monitoring and continuous performance improvement remain critical to achieving the Ministry's objectives.

Director of Policy, Planning, Research and Statistics, Mrs. Iya Ibrahim Gamawa, highlighted the importance of strategic alignment and results-based implementation in delivering value to Nigerians.

Development partners, including the United Nations Industrial Development Organization (UNIDO), alongside the Chairman of the Senate Committee on Industry, pledged continued support for the Ministry's reform agenda and industrial transformation efforts.

The retreat's communiqué commits the Ministry and its agencies to improved coordination, enhanced investment promotion, export expansion, stronger support for Micro, Small and Medium Enterprises (MSMEs), and improved industrial competitiveness.

Participants also reaffirmed their commitment to delivering measurable outcomes in 2026, including increased investments, establishment of new industries and factories, expanded exports, job creation and greater value addition within the domestic economy.

The retreat ended with a renewed commitment by the Ministry's leadership to drive the economic objectives of President Bola Ahmed Tinubu's Renewed Hope Agenda through sustainable and inclusive industrial growth.