Abuja: Nigeria generated over $500 million (about ₦750 billion) in export earnings in 2025, driven by industrial development and economic diversification, according to the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole. She said the milestone underscores the government’s push to expand non‑oil exports and strengthen the nation’s global trade profile.
Oduwole made the disclosure when she appeared before the Senate Committee on Trade and Investment on Monday to defend the ministry’s 2026 budget.
According to her, the ministry’s programmes had also created more than 20,000 direct jobs.
Oluwole said activity on the Nigeria Commodity Exchange expanded sharply, with traded volumes up by over 500 per cent.
According to her, the ministry advanced a strategic partnership. The goal is to establish a national trade and distribution company to strengthen structured commodity trade and market access.
The minister said the ministry also secured the Federal Executive Council’s approval for the National Industrial Policy in November 2025.
Importantly, in 2025, the ministry launched Nigeria’s first-ever National Intellectual Property Policy. This policy acts as a national trade and distribution company.
We also secured the approval of the National Intellectual Property Policy.
She said that in the 2005 fiscal year, the ministry’s total appropriation was N11.8 billion, with all personnel and overhead budget allocations fully utilised.
Oluwole noted that out of the N3.8 billion set aside for capital expenditure, no funds had been released as of the date of her statement.
According to her, revenue performance exceeded target by approximately N100 million with full remittance to the consolidated revenue fund.
“Within available resources, the ministry maintained fiscal discipline, effective planning, and accountable use of public funds.
For 2026 priorities and capital requirements, we seek your support, distinguished senators. With your backing, the ministry commits to quickly achieving the Renewed Hope Agenda of President Bola Tinubu’s administration.
Accordingly, our 2026 priorities are firmly grounded in the national development plan. They also align with existing policy frameworks, including Nigeria’s trade, investment, and industrial policies.
“In 2026, the ministry will focus on implementation, advancing industrial policy through targeted value chains, industrial cluster development and special economic zones. ”
She said the emphasis was firmly on giving priority to Nigeria’ s local production and non-oil exports.
The minister said domestic investors would remain the anchor. They give the strongest signal of confidence in the economy. Global investors will continue to be engaged through trade missions and in-country investment visits.
We will deliver and have an impact at the sub-national level through the National AFCFT Tour. We will also use structured zonal and state engagements that anchor value chains locally and strengthen state ownership of trade and industrial outcomes.
She said the efforts would be supported by the rollout of digital investor portals and trade intelligence tools to improve transparency and coordination across trade and investment promotion.
The minister stated that the proposed capital allocation in the draft 2026 budget for the ministry stands at N2.72 billion.
Oluwole said that, given the scope of responsibilities and the execution priorities outlined, the allocation would be a stretch to meet the full demands of the ministry’s programs and capital projects.
She sought the committee’s support for enhancing its capital allocation to enable effective alignment of priority programs with the objectives of the national development plan and the medium-term expenditure framework.
“In this context, I urge your partnership and immediate action to support the ministry’s mandate, ensuring that together we drive industrial development, expand trade, attract investment, and accelerate economic growth across the Federation.”
