FMITI Targets $1tn Economy, Unveils 2026 Growth Agenda

Minister Oduwole, flanked by the Minister of State, (Industry) Senator John Enoh and the Permanent Secretary Chris Osa Isokpunwu

"The Ministry had also completed Africa’s first comprehensive five-year review of the African Continental Free Trade Area (AfCFTA) implementation and advanced reforms in export promotion, investment facilitation and intellectual property administration." Says Oduwole.

..... As FMITI reaffirms its commitment to driving Nigeria’s industrialization, expanding trade and attracting strategic investments as it charts a course towards the country’s ambitious $1 trillion economy target.

The Federal Ministry of Industry, Trade and Investment (FMITI) has reaffirmed its commitment to driving Nigeria’s industrialization, expanding trade and attracting strategic investments as it charts a course towards the country’s ambitious $1 trillion economy target.

Speaking at the Ministry’s 2026 Top Management Retreat in Abuja, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, highlighted key achievements recorded in 2025, including about $21 billion in capital importation, $6.1 billion in non-oil exports, and support for more than 115,000 Micro, Small and Medium Enterprises (MSMEs) through grants, loans and trade finance interventions.

She said the Ministry had also completed Africa’s first comprehensive five-year review of the African Continental Free Trade Area (AfCFTA) implementation and advanced reforms in export promotion, investment facilitation and intellectual property administration.

Dr. Oduwole outlined a four-point strategy for 2026 focused on expanding demand for Nigerian products and services, strengthening domestic industrial capacity, attracting strategic investments, and leveraging data, artificial intelligence and digital infrastructure to improve service delivery.

According to her, these efforts are critical to accelerating industrial growth, economic diversification and job creation while advancing Nigeria’s long-term goal of building a $1 trillion economy.

Also speaking, the Minister of State for Industry, Senator John Owan Enoh, described the retreat as a platform for strategic alignment and renewed commitment to delivering measurable economic results. He revealed that the Ministry has adopted a 90-day implementation reporting cycle to strengthen accountability and ensure policies translate into tangible outcomes.

Enoh stressed that successful industrial development requires effective implementation backed by investment, technology, infrastructure, financing, innovation and skills development. He noted that the Ministry’s Industrial Policy Implementation Matrix prioritises industrial growth, MSME development, employment, export competitiveness, regional trade integration and sustainability.

Earlier, the Permanent Secretary, Dr. Chris Osa Isokpunwu, underscored the need for government policies to deliver visible results, noting that citizens judge performance by outcomes rather than intentions.

He said the Ministry’s success must be reflected in increased industrial output, higher investments, expanded exports, improved trade facilation and job creation. Isokpunwu added that the retreat was designed to review performance, align strategies across the Ministry and its agencies, address implementation challenges and strengthen accountability.

He urged participants to measure success through concrete indicators such as industries established, investments attracted, exports increased, jobs created and improved investor confidence.

The retreat, themed “From Policy to Performance: Driving Industrial Growth, Trade Expansion and Investment Outcomes,” brought together top government officials, development partners and industry stakeholders to advance the Federal Government’s Renewed Hope Agenda and accelerate Nigeria’s economic transformation.