Odimmegwa Johnpeter/Abuja
The Federal Government has unveiled the Federal Ministry of Industry, Trade and Investment’s (FMITI) Trade Intelligence Tools to help Nigerian businesses access global markets, attract productive investments and accelerate the drive towards 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 (FMITI)
Speaking at the launch in Abuja, the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the initiative would equip businesses, particularly micro, small and medium-sized enterprises (MSMEs), with reliable market information to identify export destinations, understand tariffs and international standards, connect with buyers and make informed commercial decisions.
The Minister stressed that Nigeria’s economic reforms must translate into tangible outcomes, including increased production, expanded exports, stronger local industries and sustainable job creation. She identified high production costs, limited access to finance, logistics challenges and complex trade procedures as barriers the government must address to improve business competitiveness.
“The next phase of our economic transformation must focus on expanding domestic productive capacity and ensuring that government policies deliver measurable benefits for businesses and citizens,” Dr. Oduwole said, reiterating that investments must translate into actual projects, industrial expansion and decent jobs.
She also highlighted reforms in the Export Expansion Grant Scheme, Free Trade Zones and Nigeria’s trade negotiation framework, while identifying CANEX WKND 2026, scheduled for November 5–8 at the National Theatre, Lagos, as a platform to connect Nigeria’s creative industries with investors, buyers and international markets. The event is expected to attract approximately 10,000 participants, creating opportunities for partnerships, investment and the promotion of African creative products.
In his opening remarks, the Permanent Secretary, Dr. Chris Osa Isokpunwu, described credible trade intelligence as essential to effective policymaking, trade facilitation and business growth. He urged the Ministry’s departments and agencies to adopt and sustain the use of the tools to improve coordination, accountability and service delivery.
The initiative builds on the inaugural edition launched in November 2025 and features the 2026 Trade Intelligence Report, covering trade and investment developments in 2025, alongside a report on first-half 2026 performance. The reports analyse export and import trends, investment inflows, global and regional economic developments, trade agreements and the outcomes of government policies and programmes.
The launch featured a presentation on the Road to CANEX, an overview and live demonstration of the Trade Intelligence Portal, and an interactive session. The initiative reinforces FMITI’s commitment to data-driven policymaking, strategic partnerships and reforms that expand market access, strengthen domestic production and attract investments capable of generating jobs and sustainable economic growth.
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