The Federal Ministry of Business, Commerce and Funding generated over $500 million in export income in 2025, pushed by its industrial improvement initiatives and Nigeria’s push to diversify the economic system.
This was disclosed by the Minister, Dr Jumoke Oduwole, on Monday whereas showing earlier than the Senate Committee on Commerce and Funding to defend the ministry’s 2026 funds proposal, in response to the Information Company of Nigeria (NAN).
Past export earnings, the ministry mentioned its interventions additionally supported job creation, coverage reforms, and improved efficiency throughout commodity markets, regardless of funding constraints throughout the yr.
What the minister is saying
Dr Oduwole advised lawmakers that the ministry’s programmes in 2025 delivered measurable outcomes in exports, employment, and market improvement.
She mentioned the outcomes mirrored improved confidence in structured commerce and the ministry’s give attention to long-term industrial competitiveness.
- “Importantly, in 2025, the ministry launched Nigeria’s first-ever Nationwide Mental Property Coverage as a nationwide commerce and distribution firm.”
- “Inside out there sources, the ministry maintained fiscal self-discipline efficient planning, and accountable use of public funds.”
- “We’ll take supply and impression to the sub-national stage via the Nationwide AFCFT Tour, and structured zonal and state engagements that anchor worth chains domestically and strengthen state possession of commerce and industrial outcomes.”
- “It’s on this context that I request your continued assist as we work to collectively ship on the ministry’s mandate to strengthen industrial improvement, develop commerce, appeal to funding, and assist financial progress throughout the Federation.”
She burdened that the ministry’s strategy combines coverage reform, market entry, and institutional strengthening to ship sustainable commerce and industrial outcomes.
Extra Insights
The minister disclosed that the ministry’s interventions in 2025 contributed to the creation of greater than 20,000 direct jobs throughout industrial and trade-related actions.
She additionally highlighted vital enhancements in commodity buying and selling infrastructure and coverage coordination.
- Exercise on the Nigeria Commodity Alternate expanded sharply throughout the yr, with traded volumes rising by over 500 per cent, signalling stronger participation and confidence in structured commodity buying and selling.
- The ministry superior a strategic partnership to set up a nationwide commerce and distribution firm to strengthen commodity commerce, enhance producers’ market entry, and improve value-chain effectivity.
- The Federal Govt Council accredited the Nationwide Industrial Coverage in November 2025, offering a framework for industrial progress, competitiveness, and long-term financial transformation.
These initiatives have been carried out alongside efforts to enhance coordination throughout commerce and funding promotion businesses.
In response to Oduwole, these reforms are designed to deepen native manufacturing, assist non-oil exports, and place Nigeria extra competitively inside regional and world markets.
What you must know
The minister revealed that the ministry’s whole appropriation for 2025 stood at N11.8 billion, masking personnel and overhead prices, which have been absolutely utilised.
Nonetheless, she mentioned capital funding constraints restricted execution capability throughout the yr.
- In response to her, no funds had been launched for the ministry’s N3.8 billion capital allocation as of the time of her briefing to the Senate Committee.
- Regardless of this, the ministry exceeded its income goal by roughly N100 million, with the total quantity remitted to the Consolidated Income Fund.
- For 2026, the ministry’s proposed capital allocation stands at N2.72 billion, which the minister described as insufficient relative to its mandate and execution priorities.
Nigeria’s proposed 2026 funds of N58.18 trillion with over N23 trillion deficit, prioritises infrastructure improvement whereas sustaining sizeable allocations to recurrent expenditure, together with personnel prices and debt servicing.
Sectoral allocations present a transparent tilt towards Works, Energy, Transport, Defence, Schooling, Well being, and Social Intervention programmes.
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