Odimmegwa Johnpeter/Abuja
The Federal Government has charged the newly inaugurated Governing Council of the Nigerian Investment Promotion Commission (NIPC) and Governing Board of the Nigerian Export Promotion Council (NEPC) to translate investor interest into actual investments, expand value-added exports and create sustainable jobs as Nigeria advances its ambition of building a $1 trillion economy by 2030. This was contained in a statement signed by Obilor-Duru Augustina Okechi, Head, Press and Public Relations, Federal Ministry of Industry, Trade and Investment.
Speaking at the inauguration ceremonies held on October 27, 2026, the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said investment promotion must deliver measurable economic benefits through local production, technology transfer, skills development and employment, rather than merely attracting capital or announcing investment commitments.
She urged the 16-member NIPC Governing Council to strengthen investment facilitation, improve the One-Stop Investment Centre, resolve business bottlenecks and track projects from announcement to implementation. She also highlighted opportunities in manufacturing, solid minerals, energy and technology infrastructure, stressing the need to deepen collaboration with state governments and improve investor aftercare to encourage business expansion and reinvestment.
At the inauguration of the nine-member NEPC Governing Board, Dr. Oduwole disclosed that Nigeria’s formally documented non-oil exports grew by 11.5 per cent to $6.1 billion in 2025, up from $5.46 billion in 2024, while export volumes increased from 7.29 million to 8.02 million metric tonnes. Nigeria exported 281 non-oil products to 120 countries, with cocoa beans, urea, cashew nuts and sesame seeds among the leading commodities.
The Minister called for greater investment in local processing, improved product quality, compliance with international standards and expanded access to global markets. She cited the Nigeria–East and Southern Africa Air Cargo Corridor, developed through partnerships with Uganda Airlines and RwandAir, as an important initiative to address logistics challenges and improve export competitiveness.
Dr. Oduwole charged both boards to adopt measurable performance targets focused on actual investments realised, export orders secured, markets accessed, businesses expanded and jobs created. She also emphasised targeted support for women-owned and youth-led enterprises, alongside stronger institutional collaboration and accountability.
The Permanent Secretary of the Ministry, Dr. Chris Osa Isokpunwu, described the appointments as timely, urging the boards to prioritise effective governance, credible performance data and practical solutions to investment and export bottlenecks. He stressed that success must be measured by tangible economic outcomes, including completed shipments, foreign exchange earnings, technology transfer and employment generation.
In their acceptance remarks, the NIPC Governing Council Chairperson, Mrs. Temitope Kola-Oyenenyi, pledged to strengthen investor confidence, improve governance and ensure investment commitments translate into viable projects. The NEPC Governing Board Chairman, Alhaji Muhammed Munir Ja’afaru, OFR, mni, also assured that the board would draw on its collective experience to deliver on its mandate.
The inaugurations reaffirm the Federal Government’s commitment to strengthening investment promotion and export development as drivers of industrialisation, economic diversification and inclusive growth under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
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