The Ministry of Industry, Trade and Investment generated more than $500 million in export revenue in 2025, reflecting the growing impact of Nigeria’s industrial development and economic diversification drive, with small and medium-sized enterprises playing a central role in the gains.

The minister disclosed this on Monday while defending the ministry’s 2026 budget before the Senate Committee on Trade and Investment, noting that the ministry’s programmes also led to the creation of over 20,000 direct jobs across key sectors of the economy. The figures, according to her, underline the increasing contribution of structured trade, manufacturing, and non-oil exports to national revenue at a time when the government is pushing to reduce reliance on oil earnings.

 

She said activity on the Nigeria Commodity Exchange expanded significantly during the year, with traded volumes rising by more than 500 per cent. The surge was attributed to reforms aimed at improving market access, price transparency, and participation by producers and aggregators, many of whom operate at the MSME level. These developments, she explained, are helping to strengthen structured commodity trade and integrate small businesses more effectively into formal markets.

As part of these efforts, the ministry advanced a strategic partnership to establish a national trade and distribution company designed to improve logistics, distribution, and market access for locally produced goods. The initiative is expected to support MSMEs by reducing bottlenecks along value chains and improving their ability to compete in both domestic and export markets.

 

The minister also confirmed that the Federal Executive Council approved the National Industrial Policy in November 2025, providing a long-term framework for industrial growth anchored on value chain development, industrial clusters, and special economic zones. In the same year, the ministry launched Nigeria’s first National Intellectual Property Policy, a move seen as critical for protecting innovation, strengthening competitiveness, and supporting creative and knowledge-driven enterprises, including small businesses.

On budget performance, she said the ministry’s appropriation in 2025 stood at N11.8 billion, with personnel and overhead costs fully utilised. However, apart from a N3.8 billion capital allocation, no additional funds had been released as of the time of reporting. Despite these constraints, revenue performance exceeded target by about N100 million, with full remittance made to the Consolidated Revenue Fund.

 

She said the ministry maintained fiscal discipline through effective planning and accountable use of public funds, even as limited releases constrained the execution of some capital projects. Looking ahead, she outlined the ministry’s priorities for 2026, stressing that they are aligned with the National Development Plan, the Trade Policy for Nigeria, the Nigerian Investment Policy, and the Nigerian Industrial Policy.

In 2026, the ministry plans to focus on implementation, with targeted interventions in priority value chains, industrial cluster development, and the expansion of special economic zones. The emphasis, she said, will remain on boosting local production and expanding non-oil exports, areas where MSMEs are expected to remain key drivers of growth.

She added that domestic investors would continue to serve as the strongest signal of confidence in the economy, while international investors would be engaged through trade missions and in-country investment visits. To deepen impact at the grassroots, the ministry plans to roll out the National AfCFTA tour alongside zonal and state-level engagements aimed at anchoring value chains locally and strengthening state ownership of trade and industrial outcomes.

 

These efforts, she said, will be supported by digital investor portals and trade intelligence tools to improve transparency, coordination, and access to information for businesses, particularly small firms seeking to scale or enter new markets.

The minister disclosed that the ministry’s proposed capital allocation for 2026 stands at N2.72 billion, noting that the amount would be insufficient to meet the full scope of its programmes and capital projects. She therefore appealed to the Senate committee for enhanced funding to enable the ministry to effectively deliver on its mandate of strengthening industrial development, expanding trade, attracting investment, and supporting inclusive economic growth across the federation.