Nigerian Ministry to Assess Privatized Industries' Performance for Economic Growth

The Federal Ministry of Industry, Trade, and Investment (FMITI) in Nigeria, led by Dr. Jumoke Oduwole, is partnering with the Bureau of Public Enterprises (BPE) to evaluate the performance of privatized industries against the government's original objectives.

The ministry's 2026 priorities include conducting a national census to determine the number of micro, small, and medium enterprises (MSMEs) in the country. They aim to boost industrial cluster development, support women-led businesses, and promote long-term financing and value chain transformation.

The FMITI's outlook for 2026 involves measures such as achieving $21 billion in capital imports, $6.1 billion in non-oil exports, and enhancing intra-African trade. The collaboration with BPE will involve assessing the operational efficiency, investment commitments, job creation, and value chain contributions of privatized assets.

The ministry also plans to launch the Made in Nigeria campaign to strengthen domestic production capacity and reduce import dependency.