ENUGU — The Federal Government has intensified efforts to grow Nigeria into a $1 trillion economy, scaling up support for over 115,000 Micro, Small and Medium Enterprises (MSMEs) and advancing plans for a ₦350 billion development fund.
The push was highlighted at the 17th National Council on Industry, Trade and Investment (NCITI) technical session, where officials outlined reforms aimed at boosting industrialisation, trade and investment.
Speaking at the session, the Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Dr Chris Osa Isokpunwu, said the government is prioritising competitiveness and inclusive growth under the Renewed Hope Agenda.
He described the gathering as critical to shaping policy direction, noting that it serves as “the engine room of the Council’s decision-making process.”
According to the ministry, the MSME sector remains central to job creation and economic expansion, with new financing initiatives expected to accelerate enterprise growth across the country.
Director of Policy, Planning, Research and Statistics, Mrs Iya Gamawa, said the government is building on recent gains, including improved export performance and increased capital inflows.
She revealed that over 40,000 exporters have been onboarded onto the Nigerian Export Promotion Council’s digital platform, boosting access to global markets.
Gamawa also highlighted reforms in trade facilitation, including the National Single Window and implementation of the African Continental Free Trade Area (AfCFTA), as key drivers of growth.
“In addition to strong investment inflows and export growth, we are advancing policies that support sustainable industrial development and global competitiveness,” she said.
The session also reviewed progress on 22 resolutions from the previous council, covering areas such as industrial development, infrastructure, digital trade and regulatory improvements.
Officials said 2026 marks the first full year of implementing the Nigeria Industrial Policy (2025–2035), which focuses on strengthening value chains, digital transformation and private sector partnerships.
Participants at the session are expected to adopt key recommendations that will guide Nigeria’s industrial, trade and investment strategy in the coming year.
The outcomes will be presented for final approval at the Council’s executive session.
