By Eunice Orike
The Federal Government has unveiled a comprehensive strategy to achieve a $1 trillion economy by 2030, driven by a landmark domestic investment summit in Abuja.
The summit, hosted by the Ministry of Industry, Trade and Investment, brought together domestic investors, policymakers, and industry experts to galvanize support for the “Nigeria First” Policy.
The policy, anchored on the Eight-Point Renewed Hope Agenda, aims to transform Nigeria into a manufacturing hub for ECOWAS and Africa, with a focus on industrialization, digitization, creative industries, manufacturing, and innovation.
According to the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, the policy will actualize President Bola Tinubu’s vision of turning ambition into productivity and global competitiveness.
“Key early wins include a 24.75% increase in non-oil exports in Q1 2025, reaching $1.79 billion. “The summit secured over $50 billion in investor commitments, with participants unlocking their commitments to achieve the Ministry’s 2025 milestones, including $6 billion in combined foreign direct and portfolio investments, $6.5 billion in non-oil exports, and 20% growth in trade value. “The Ministry also targets the creation of 200,000 export-led jobs, with a focus on textile parks, automotive plants, and food hubs within Special Economic Zones. “This is expected to generate substantial foreign-exchange savings and large-scale job opportunities”, Dr Oduwole said.
On Private-Public Synergy and partnership, Permanent Secretary of the Ministry, Nura Rimi, emphasised that “Nigeria First” is not a slogan but a declaration to prioritise local businesses, bolster indigenous capacity, and enhance regulatory and infrastructural frameworks. In his remark, governor of the central bank of Nigeria Mr. Olayemi Cardoso, represented by Dr. Blaise Ijebor, affirmed the summit’s role in forging a conducive monetary and risk-management environment to attract both domestic and regional investors. A statement by the director press and public relations, Dr. Adebayo Thomas explained that the essence of the summit, said the Ministry through Dr. Oduwole will sustain momentum by rolling out targeted investment roadshows across all six geopolitical zones.”
