FMITI Shifts Focus to Economic Outcomes Under Oduwole

The Federal Ministry of Industry, Trade and Investment (FMITI), under Dr. Jumoke Oduwole, is transitioning from mere policy announcements to tangible economic outcomes, aligning with President Bola Ahmed Tinubu's Renewed Hope Agenda since May 2023. A 19-page scorecard released by FMITI outlines measurable policy implementations across its agencies, including the Bank of Industry, Nigerian Export Promotion Council, and others, demonstrating Nigeria's efforts to become Africa's preferred investment destination.

The ministry's strategy emphasizes Nigeria's leadership role in the African Continental Free Trade Area (AfCFTA), where it has been designated as the Champion of the AfCFTA Protocol on Digital Trade by the African Union. This designation positions Nigeria to influence digital commerce rules across Africa, leveraging its youthful population and expanding fintech ecosystem.

The FMITI's initiatives aim to diversify Nigeria's economy beyond crude oil, focusing on manufacturing, services, agriculture, and digital trade.