The Federal Government says reforms under the Renewed Hope Agenda have attracted more than $24.1 billion in capital importation, generated over $6.1 billion in non-oil exports and provided support to more than 115,000 micro, small and medium-sized enterprises.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed the figures at the technical session of the 17th National Council on Industry, Trade and Investment in Enugu.
Oduwole, represented by the ministry’s Permanent Secretary, Dr Chris Isokpunwu, said the interventions formed part of the government’s strategy to expand production, strengthen enterprise development and build a $1 trillion economy.
Her remarks were contained in a statement issued in Abuja by the ministry’s Head of Press and Public Relations, Mrs Augustina Obilor-Duru.
The 2026 council meeting, themed “Enhancing Competitiveness in Industry, Trade and Investment for Inclusive Growth and Global Market Integration,” brought together federal and state officials, private-sector representatives and other stakeholders to assess progress and shape Nigeria’s next phase of industrial, trade and investment policy.
Oduwole described the technical session as the engine room of the council’s decision-making process, where policy memoranda, implementation constraints and practical recommendations would be examined.
From capital inflows to productive investment
The reported $24.1 billion in capital importation is a positive signal of renewed investor interest in Nigeria. However, the development impact will depend on the composition, duration and final destination of those inflows.
Capital directed into factories, infrastructure, technology, agriculture and export-oriented businesses can create jobs and expand productive capacity. Short-term portfolio flows may improve market liquidity and foreign-exchange supply but are more vulnerable to rapid reversal when global conditions or domestic risks change.
Nigeria’s challenge is therefore not only to attract capital, but to convert it into long-term investment capable of strengthening local value chains and raising productivity.
The minister said government remained committed to deepening industrialisation, increasing exports, creating jobs and improving Nigeria’s global competitiveness.
She identified the operationalisation of the National Single Window, trade-facilitation reforms, digital public infrastructure and implementation of the African Continental Free Trade Area as key policy priorities.
The National Single Window is expected to integrate trade documentation and government approvals into a more coordinated digital system. If effectively implemented, it could reduce clearance delays, administrative duplication and costs for importers and exporters.
Non-oil exports cross $6.1bn
The government’s reported $6.1 billion in non-oil exports provides an important indication that Nigeria is gradually broadening its foreign-exchange earnings beyond crude petroleum.
But the country must go further by increasing the share of processed and manufactured products in its export basket.
Agricultural commodities may generate valuable earnings, but greater prosperity lies in processing cocoa, cashew, sesame, leather, solid minerals and other raw materials before export. Value addition creates more jobs, deepens industrial capabilities and retains a larger portion of export income within Nigeria.
AfCFTA offers Nigerian businesses access to wider African markets, but market access alone cannot guarantee success. Manufacturers still face expensive power, high financing costs, logistics bottlenecks and regulatory uncertainty.
The council’s recommendations must therefore address the factory-floor constraints that determine whether Nigerian products can compete on price, quality and reliability.
More than 40,000 exporters registered digitally
Presenting the implementation status of the 22 resolutions adopted at the previous National Council meeting, the Director of Policy, Planning, Research and Statistics, Mrs Iya Gamawa, reported progress in digital trade facilitation, industrial development, AfCFTA implementation, infrastructure and MSME support.
Gamawa disclosed that more than 40,000 exporters had been onboarded onto the Nigerian Export Promotion Council’s digital registration platform.
Digital registration can simplify market entry, improve exporter data and connect businesses with government incentives and trade information. Its economic value, however, will depend on how many registered companies proceed to complete actual export transactions.
The ministry also reported progress in strengthening regulatory systems, expanding Special Economic Zones and improving access to finance.
₦350bn MSME fund in the pipeline
Gamawa said plans had advanced for a proposed ₦350 billion MSME Development Fund to accelerate enterprise growth.
The fund could provide an important response to the financing constraints facing small businesses, particularly if it offers affordable, long-term capital rather than conventional high-cost lending.
The structure of the intervention will be decisive. Transparent selection, measurable performance targets and effective monitoring will be required to prevent the programme from becoming another politically allocated funding scheme.
Nigeria’s MSMEs need more than credit. They require reliable electricity, market access, digital tools, technical training and simplified taxation.
Oduwole urged participants to develop practical and evidence-based recommendations through stronger collaboration among federal and state governments, businesses and development partners.
Enugu highlights business reforms
In a goodwill message, the Enugu State Commissioner for Trade and Investment, Dr Samuel Ogbu-Nwobodo, highlighted Executive Order 007 as one of the reforms improving the state’s ease of doing business.
He reaffirmed Enugu’s commitment to infrastructure development, security, MSME growth and investment promotion.
The competition among states for domestic and foreign capital is becoming increasingly important. Investors compare locations based on electricity, land administration, security, logistics and the predictability of government policy.
States that provide a more efficient operating environment will capture a larger share of new investment.
Nigeria Industrial Policy enters full implementation
Gamawa said 2026 marked the first full year of implementation of the Nigeria Industrial Policy 2025–2035.
The framework prioritises industrialisation, strategic value chains, digital transformation and partnerships capable of supporting sustainable growth.
Its success will depend on disciplined implementation across successive administrations. Nigeria has produced several industrial plans; the recurring challenge has been policy continuity and delivery.
Market, investor and brand implications
The reported capital inflows and export growth should strengthen investor interest in banking, manufacturing, logistics, technology, agriculture and trade infrastructure.
For businesses, the reforms could reduce transaction costs and improve access to continental markets. For investors, the key questions remain whether policy stability will endure and whether capital can move efficiently into productive sectors.
For Nigeria’s national brand, the figures support a narrative of a reforming economy seeking greater global integration. But credibility will ultimately rest on visible factories, sustained exports, stronger enterprises and quality employment.
BRANDECONOMY Insight
Nigeria’s $24.1 billion capital-importation figure is encouraging, but inflows become prosperity only when they create productive assets.
The $6.1 billion in non-oil exports is equally promising, yet the country must move from exporting raw commodities to exporting branded, value-added products.
The opportunity is clear: combine investment reform, digital trade systems, AfCFTA access and MSME finance into one coherent industrial strategy.
Nigeria will not reach a $1 trillion economy merely by attracting money. It must convert capital into production, production into exports and exports into sustainable prosperity.
