ABUJA — The Federal Government has announced major economic gains, recording over $24.1 billion in capital importation and generating more than $6.1 billion in non-oil exports as it pushes toward building a $1 trillion economy.
The figures were disclosed at the 17th National Council on Industry, Trade and Investment (NCITI) technical session, which began on July 20, 2026, in Enugu, according to a press release issued by the Federal Ministry of Industry, Trade and Investment (FMITI) and signed by its Head of Press and Public Relations, Obilor-Duru Augustina Okechi
Declaring the session open on behalf of the Minister of Industry, Trade and Investment, the Permanent Secretary of the ministry, Dr Chris Osa Isokpunwu, said the progress reflects the impact of the Federal Government’s Renewed Hope Agenda.
He described the technical session as “the engine room of the Council’s decision-making process,” where policies are reviewed, challenges addressed and practical solutions developed.
The government also said it has supported over 115,000 Micro, Small and Medium Enterprises (MSMEs), while advancing plans for a ₦350 billion MSME Development Fund to accelerate business growth.
According to the ministry, the 2026 theme, “Enhancing Competitiveness in Industry, Trade and Investment for Inclusive Growth and Global Market Integration,” underscores efforts to boost industrialisation, attract investment and expand exports.
Highlighting ongoing reforms, Isokpunwu pointed to the operationalisation of the National Single Window, trade facilitation initiatives, digital public infrastructure and the implementation of the African Continental Free Trade Area (AfCFTA).
“We must develop practical, evidence-based recommendations through stronger collaboration among governments, the private sector and development partners,” he said.
Also presenting the implementation report of the 16th NCITI resolutions, Director of Policy, Planning, Research and Statistics, Mrs Iya Gamawa, said significant progress has been recorded across 22 resolutions adopted at the previous council.
She disclosed that over 40,000 exporters have been onboarded onto the Nigerian Export Promotion Council’s digital platform, while reforms in Special Economic Zones, access to finance and regulatory systems are improving the business environment.
“In addition to attracting over $24.1 billion in capital importation and generating more than $6.1 billion in non-oil exports, the ministry is advancing key reforms to support sustainable growth,” she said.
Gamawa added that 2026 marks the first full year of implementing the Nigeria Industrial Policy (2025–2035), which focuses on industrialisation, digital transformation and strategic value chains.
Officials of the Enugu State Government also highlighted reforms aimed at improving ease of doing business, including Executive Order 007, while reaffirming commitment to infrastructure, security and investment promotion.
The technical session is expected to produce key resolutions that will shape Nigeria’s industrial, trade and investment policies, ahead of adoption at the Council’s executive session.
