The Federal Government has charged the governing boards of two key trade agencies with converting investor interest into actual projects, expanding non-oil exports and creating jobs as Nigeria pursues its ambition of building a $1 trillion economy by 2030.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, gave the charge on October 27, 2026, during the inauguration of the Governing Council of the Nigerian Investment Promotion Commission (NIPC) and the Governing Board of the Nigerian Export Promotion Council (NEPC).
According to a statement issued on Wednesday, October 28, by Obilor-Duru Augustina Okechi, Head of Press and Public Relations at the Federal Ministry of Industry, Trade and Investment, Oduwole said, Oduwole said investment promotion must go beyond attracting capital and announcing investment commitments to delivering measurable economic benefits through local production, technology transfer, skills development and employment.
She urged the 16-member NIPC Governing Council to strengthen investment facilitation, improve the commission’s One-Stop Investment Centre and remove bottlenecks that discourage businesses from investing or expanding in Nigeria.
The minister also called for closer collaboration with state governments and stronger investor aftercare, stressing the importance of tracking projects from announcement to implementation.
She identified manufacturing, solid minerals, energy and technology infrastructure as sectors offering opportunities for investment and economic growth.
Non-oil exports rise to $6.1bn
At the inauguration of the nine-member NEPC Governing Board, Oduwole disclosed that Nigeria’s formally documented non-oil exports increased by 11.5 per cent to $6.1 billion in 2025, compared with $5.46 billion in 2024.
Export volumes also rose from 7.29 million metric tonnes in 2024 to 8.02 million metric tonnes in 2025, according to figures contained in the ministry’s statement.
Nigeria exported 281 non-oil products to 120 countries during the period, with cocoa beans, urea, cashew nuts and sesame seeds among the leading commodities.
The minister called for greater investment in local processing, improved product quality, compliance with international standards and wider access to international markets to strengthen the competitiveness of Nigerian exports.
She also highlighted the Nigeria–East and Southern Africa Air Cargo Corridor, developed through partnerships with Uganda Airlines and RwandAir, as an initiative aimed at addressing logistics challenges and improving exporters’ access to overseas markets.
Boards face performance targets
Oduwole charged both boards to adopt measurable performance targets focused on actual investments realised, export orders secured, markets accessed, businesses expanded and jobs created.
She also called for targeted support for women-owned and youth-led enterprises, alongside stronger institutional collaboration and accountability.
The ministry’s Permanent Secretary, Dr Chris Osa Isokpunwu, described the appointments as timely and urged the boards to prioritise effective governance, credible performance data and practical solutions to investment and export bottlenecks.
He said the agencies’ success should be measured by tangible outcomes, including completed export shipments, foreign exchange earnings, technology transfer and employment generation.
In her acceptance remarks, NIPC Governing Council Chairperson Temitope Kola-Oyeneniyi pledged to strengthen investor confidence, improve governance and ensure that investment commitments translate into viable projects.
The NEPC Governing Board Chairman, Muhammed Munir Ja’afaru, also pledged to draw on the board’s collective experience to deliver on its mandate.
The inaugurations form part of the Federal Government’s efforts to strengthen investment promotion and export development as drivers of industrialisation, economic diversification and inclusive growth under President Bola Tinubu’s Renewed Hope Agenda.
The Ministry of Industry, Trade and Investment said the two agencies would be expected to translate their mandates into measurable economic outcomes.
