Trade Ministry generated $500m export revenue in 2025 — Oduwole 

The Federal Ministry of Industry, Trade and Investment generated over $500 million in export revenue in 2025, driven by its industrial development initiatives and Nigeria’s push to diversify the economy.

This was disclosed by the Minister, Dr Jumoke Oduwole, on Monday while appearing before the Senate Committee on Trade and Investment to defend the ministry’s 2026 budget proposal, according to the News Agency of Nigeria (NAN).

Beyond export earnings, the ministry said its interventions also supported job creation, policy reforms, and improved performance across commodity markets, despite funding constraints during the year.

What the minister is saying 

Dr Oduwole told lawmakers that the ministry’s programmes in 2025 delivered measurable outcomes in exports, employment, and market development.

She said the results reflected improved confidence in structured trade and the ministry’s focus on long-term industrial competitiveness.

• “Importantly, in 2025, the ministry launched Nigeria’s first-ever National Intellectual Property Policy as a national trade and distribution company.” 
• “Within available resources, the ministry maintained fiscal discipline effective planning, and accountable use of public funds.” 
• “We will take delivery and impact to the sub-national level through the National AFCFT Tour, and structured zonal and state engagements that anchor value chains locally and strengthen state ownership of trade and industrial outcomes.” 
• “It is in this context that I request your continued support as we work to collectively deliver on the ministry’s mandate to strengthen industrial development, expand trade, attract investment, and support economic growth across the Federation.” 

She stressed that the ministry’s approach combines policy reform, market access, and institutional strengthening to deliver sustainable trade and industrial outcomes.

More Insights 

The minister disclosed that the ministry’s interventions in 2025 contributed to the creation of more than 20,000 direct jobs across industrial and trade-related activities.

She also highlighted significant improvements in commodity trading infrastructure and policy coordination.

• Activity on the Nigeria Commodity Exchange expanded sharply during the year, with traded volumes rising by over 500 per cent, signalling stronger participation and confidence in structured commodity trading.
• The ministry advanced a strategic partnership to establish a national trade and distribution company to strengthen commodity trade, improve producers’ market access, and enhance value-chain efficiency.
• The Federal Executive Council approved the National Industrial Policy in November 2025, providing a framework for industrial growth, competitiveness, and long-term economic transformation.

These initiatives were implemented alongside efforts to improve coordination across trade and investment promotion agencies.

According to Oduwole, these reforms are designed to deepen local production, support non-oil exports, and position Nigeria more competitively within regional and global markets.

What you should know 

The minister revealed that the ministry’s total appropriation for 2025 stood at N11.8 billion, covering personnel and overhead costs, which were fully utilised.

However, she said capital funding constraints limited execution capacity during the year.

• According to her, no funds had been released for the ministry’s N3.8 billion capital allocation as of the time of her briefing to the Senate Committee.
• Despite this, the ministry exceeded its revenue target by approximately N100 million, with the full amount remitted to the Consolidated Revenue Fund.
• For 2026, the ministry’s proposed capital allocation stands at N2.72 billion, which the minister described as inadequate relative to its mandate and execution priorities.

Nigeria’s proposed 2026 budget of N58.18 trillion with over N23 trillion deficit, prioritises infrastructure development while maintaining sizeable allocations to recurrent expenditure, including personnel costs and debt servicing.

Sectoral allocations show a clear tilt toward Works, Power, Transport, Defence, Education, Health, and Social Intervention programmes.