By Vivian Emoni
The Ministry of Industry, Trade and Investment, says it has inaugurated its 2026 Trade Intelligence Tools to strengthen exports, attract investment and improve Nigerian businesses’ competitiveness.
The Minister, Dr Jumoke Oluwole, said this at the inauguration and presentation of trade intelligence portal, on Thursday in Abuja.
Oluwole said that the Federal Government was targeting a trillion dollar economy by 2030 through policies aimed at promoting productive investment, industrial growth and competitive trade.
She said that the trade intelligence tools would help Nigerian exporters identify markets, understand tariffs and meet international trade requirements.
She said the tools would help businesses identify promising markets, understand tariffs and entry requirements as well as access reliable trade data for informed decisions.
The minister said that the initiative consolidated the ministry’s policies, interventions and institutional activities into practical intelligence to support trade, investment and industrial development.
According to her, the ministry’s mandate under President Bola Tinubu’s Renewed Hope Agenda was to expand trade, attract productive investment and strengthen Nigerian industries.
“The president had set an ambitious target of building a trillion-dollar economy by 2030, requiring coordinated fiscal, monetary and industrial policies.
“Trade, investment and industrial policies must translate macroeconomic stability into production, competitiveness, employment and sustainable economic growth,” she said.
Oluwole said that capital importation rose from about 3.9 billion dollars in 2023 to more than 23 billion dollars in 2025, while exports reached approximately N12 trillion.
She added that Nigerian products reached more than 120 countries, while intra-African trade grew by 21 per cent in 2025.
She identified production costs, limited access to finance, logistics challenges and complex trade procedures as constraints requiring sustained collaboration with private-sector stakeholders.
On export support, the minister said that the President directed the clearance of outstanding Export Expansion Grant claims up to 2022 and reforms to ensure sustainability.
She said a technical working group, led by the ministry’s Commodities Export Department, had been inaugurated with a 60-day mandate to develop a comprehensive reform framework.
Oluwole said the reforms aimed to restore confidence in the scheme, stressing that export incentives must be transparent, predictable and financially sustainable.
She pointed out that Nigeria would host CANEX Weekend 2026 from Nov. 5 to Nov. 8, in Lagos State, describing the event as an opportunity to commercialise Nigeria’s creative talent.
“The CANEX Weekend will prepare Nigeria for the 2027 Intra-African Trade Fair in Lagos: ministries and agencies should track business deals and partnerships generated.
“The formal launch of the trade portal at CANEX Weekend will connect businesses, investors and buyers with market intelligence, turning commercial relationships into transactions,” she said.
The minister urged agencies to integrate the tools into their operations, improve their reliability and accessibility, while ensuring implementation groups deliver measurable results.
The Permanent Secretary of the ministry, Dr Chris Isokpunwu, reaffirmed the ministry’s commitment to promoting trade, investment and industrial development.
He said that the ministry remained committed to translating the Federal Government’s Renewed Hope Agenda into tangible economic outcomes for Nigerians.
“The ministry’s newly launched trade intelligence tools will strengthen access to reliable information, improve business competitiveness and protect genuine investors from fraud.
“The launch featured presentations, an overview of the tools, a live demonstration of the trade intelligence portal and an interactive session,” he said.
Isokpunwu urged participants to engage actively and provide constructive feedback, emphasising that the tools required sustained implementation to support trade facilitation and business growth.
He commended the minister, ministry departments and heads of agencies for their support, expressing optimism that the initiative would strengthen Nigeria’s position in international trade and investment.
Dr Jani Ibrahim, Chairman, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), commended the minister for her bold reforms, purposeful leadership and commitment to evidence-based policies, informed decisions and accountability.
Ibrahim, represented by Mr Suleman Audu, his Technical Adviser, said trade intelligence should guide businesses on production, market entry, standards and investments.
He urged for a quarterly public-private scorecards to track export volumes, clearance times and investments. (NAN)
VOE/CEO
Edited by Chidi Opara
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