The Federal Government in 2025 recorded export earnings exceeding $500 million.
This was disclosed by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, on Monday during her appearance before the Senate Committee on Trade and Investment, where she presented and defended the ministry’s proposed 2026 budget.
She attributed the export performance to ongoing industrial reforms and diversification efforts, noting that the ministry’s interventions also generated more than 20,000 direct jobs within the year under review.
The minister highlighted major growth on the Nigeria Commodity Exchange, stating that trading volumes surged by more than 500 per cent.
She also disclosed that the ministry progressed plans for a national trade and distribution company aimed at strengthening structured commodity trading and expanding market access nationwide.
Oduwole further informed lawmakers that the Federal Executive Council approved the National Industrial Policy in November 2025.
“Importantly, in 2025, the ministry launched Nigeria’s first-ever National Intellectual Property Policy as a national trade and distribution company.
“We also secured the approval of the National Intellectual Property Policy as a national trade and distribution company,” she said.
On the ministry’s finances, Oduwole stated that its 2025 budget stood at N11.8 billion, with personnel and overhead allocations fully expended.
However, she noted that although N3.8 billion was earmarked for capital projects, no disbursement had been made as of the time of her presentation.
She added that the ministry surpassed its revenue target by about N100 million and remitted the entire amount to the Consolidated Revenue Fund.
“Within available resources, the ministry maintained fiscal discipline, effective planning, and accountable use of public funds,” Oduwole said.
“2026 priorities and capital requirements, distinguished senators, with your support, continuing for the ministry, we are committed to ensuring that the speedy attainment of the Renewed Hope Agenda of President Bola Tinubu’s administration.
“Accordingly, our 2026 priorities are firmly grounded in the national development plan and the existing policy frameworks, including the trade policy for Nigeria, the Nigerian investment policy, and the Nigerian industrial policy.
“In 2026, the ministry will focus on implementation, advancing industrial policy through targeted value chains and industrial cluster development and special economic zones.”
Expanding on the 2026 agenda, she explained that emphasis would be placed on strengthening local production, promoting non-oil exports, and deepening value chain development through industrial clusters and special economic zones.
Oduwole said domestic investors would remain a core focus of government strategy, while international investors would continue to be engaged through trade missions and investment outreach programmes.
“We will take delivery and impact to the sub-national level through the National AFCFT Tour, and structured zonal and state engagements that anchor value chains locally and strengthen state ownership of trade and industrial outcomes,” she said.
She also announced plans to introduce digital investor portals and deploy trade intelligence tools to improve coordination, transparency and efficiency in trade and investment promotion.
The minister disclosed that the proposed capital allocation for 2026 stands at N2.72bn but described it as insufficient to meet the ministry’s programme and infrastructure needs, urging the Senate committee to consider increasing the allocation to enable effective delivery of its mandate.
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