Nigeria's FG Unveils 2026 Trade Tools to Boost Exports

The Federal Government of Nigeria launched the 2026 Trade Intelligence Tools on October 22, 2026, in Abuja, aimed at attracting productive investment and expanding exports as part of the strategy to achieve a $1 trillion economy by 2030. Dr Jumoke Oduwole, the Minister of Industry, Trade and Investment, stated that these tools were developed by aggregating data from the ministry's policies and interventions to enhance Nigeria's trade and investment performance.

Oduwole highlighted the necessity for coordinated fiscal, monetary, trade, investment, and industrial policies to realize the economic target. She reported early indicators of progress, including an increase in capital importation from about $3.9 billion in 2023 to over $23 billion in 2025 and exports reaching approximately N12 trillion.

Oduwole acknowledged ongoing challenges for businesses, such as high production costs and limited access to finance, and mentioned the government's collaboration with the private sector to address these issues. Additionally, she revealed that President Tinubu directed the ministry to reform the Export Expansion Grant Scheme for sustainability.