The Federal Government earned over $500 million in export revenue in 2025, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, announced on Monday.
The figure, she said, reflected gains from industrial development, economic diversification, and strategic trade initiatives.
Oduwole made the disclosure while presenting the ministry’s 2026 budget before the Senate Committee on Trade and Investment.
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According to her, the ministry’s programs also created more than 20,000 direct jobs across the country.
The minister highlighted the expansion of activity on the Nigeria Commodity Exchange, reporting a more than 500 percent increase in traded volumes.
She also cited the establishment of a national trade and distribution company aimed at strengthening structured commodity trade and improving market access for domestic producers.
Among key achievements, Oduwole noted the approval of the National Industrial Policy by the Federal Executive Council in November 2025 and the launch of Nigeria’s first-ever National Intellectual Property Policy, designed to bolster innovation and trade.
“Our 2025 revenue performance exceeded the target by approximately N100 million, all of which was fully remitted to the Consolidated Revenue Fund,” she told senators.
She emphasised the ministry’s commitment to fiscal discipline and accountable management of public resources.
Looking ahead, Oduwole outlined the ministry’s 2026 priorities, stressing industrial policy implementation through value chain development, industrial clusters, and special economic zones.
She said the focus will remain on boosting local production and non-oil exports, while continuing to engage global investors through trade missions and in-country investment visits.
The minister also announced plans to roll out digital investor portals and trade intelligence tools to enhance transparency and coordination in trade promotion, alongside structured engagements at the zonal and state levels to ensure that benefits reach local economies.
The ministry’s proposed capital allocation for 2026 stands at N2.72 billion, which Oduwole said may be insufficient to meet all programmatic needs.
She urged the Senate Committee to support an increase in funding to effectively align priorities with the national development plan and the medium-term expenditure framework.
“We remain committed to strengthening industrial development, expanding trade, attracting investment, and supporting economic growth across the Federation,” Oduwole said.
