We must deliver, minister charges agencies’ heads at unveiling of roadmap

“This is a moment of collective resolve. We must deliver, not just for Mr President but for over 200 million Nigerians, who rely on us to build a stronger economy.”

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, stated this at the unveiling of a strategic roadmap to accelerate Nigeria’s economic diversification, industrialisation and global competitiveness this year.

Speaking at a high-level retreat in Abuja, yesterday, Oduwole reaffirmed the ministry’s commitment to a dynamic, resilient and sustainable economy that empowers businesses to thrive locally, regionally and globally.

With the theme, ‘Accelerating Diversification to Rebuild Prosperity’, the retreat brought together chief executives of 20 agencies under the ministry, along with key directors, to chart a pathway for reducing Nigeria’s dependence on imports and boosting industrial productivity.

The Nigeria Economic Summit Group (NESG) revealed that in the first three quarters of 2024, Nigeria’s total imports amounted to approximately N42.1 trillion, with Asia and Europe being the primary trade partners.

Addressing this import dependency, Oduwole stressed the urgent need to shift towards self-sufficiency. “Our priority is clear; to create wealth, generate productive jobs and foster shared prosperity for all Nigerians,” she stated.

The Minister of State, John Enoh, described the retreat as a defining moment for Nigeria’s economic transformation. “This is not just a retreat; it is a defining mission. We are not here merely to discuss problems, but to deliver solutions,” he asserted.

Enoh outlined the focus areas for driving industrial growth, which include “Scaling up industrialisation and expanding trade opportunities; enhancing investment policies to attract both local and foreign investors and developing a sustainable ecosystem for manufacturing, Small and Medium-sized Enterprises (SMEs), and export-driven industries.”

Permanent Secretary of the ministry, Nuru Rimi, emphasised the retreat’s importance as a platform to align the ministry’s objectives with the administration’s broader economic agenda.

Earlier, Oduwole said the ministry was working towards positioning the private sector for productivity and competitiveness to take full advantage of the vast opportunities available in the domestic, regional and global markets.

She also said the ministry was driving the country’s economic diversification by implementing targeted policies and reforms to accelerate industrialisation, digitalisation, creative arts, manufacturing and innovation.

According to the minister, the retreat was to present the ministry’s 2025 roadmap, bring together the chief executives of agencies under it, as well as directors of the ministry for a strategic discussion on the future of industry, trade, and investment in Nigeria.