The Federal Government has said the implementation of the Renewed Hope Agenda has attracted more than $24.1 billion in capital importation and generated more than $6.1 billion in non-oil exports.

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed this in a statement issued on Tuesday in Abuja by the ministry’s Head of Press and Public Relations, Mrs Augustina Obilor-Duru.

The minister said that government had supported more than 115,000 Micro, Small and Medium Enterprises (MSMEs) as part of the efforts to build $1 trillion economy.

The minister was represented by the Permanent Secretary of the ministry, Dr Chris Isokpunwu, at the technical session of the 17th National Council on Industry, Trade and Investment in Enugu.

Oduwole described the session as the engine room of the council’s decision-making process.

The 2026 council meeting had the theme: ‘Enhancing Competitiveness in Industry, Trade and Investment for Inclusive Growth and Global Market Integration.’

The meeting brought together government officials, state representatives and key stakeholders to assess progress and chart the next phase of Nigeria’s industrial, trade and investment agenda.

The minister said the deliberations would focus on policy memoranda, implementation challenges and practical recommendations to strengthen the sector.

Oduwole said the theme underscored the Federal Government’s commitment to deepening industrialisation, boosting productivity, attracting investment, expanding exports, creating jobs and enhancing Nigeria’s global competitiveness.

She identified key reforms to include the operationalisation of the National Single Window, trade facilitation initiatives, digital public infrastructure and implementation of the African Continental Free Trade Area (AfCFTA).

The minister urged delegates to develop practical, evidence-based recommendations through stronger collaboration among governments, the private sector and development partners.

In a goodwill message, the Enugu State Commissioner for Trade and Investment, Dr Samuel Ogbu-Nwobodo, highlighted reforms, including Executive Order 007, which he said had improved the ease of doing business in the state.

He reaffirmed the state’s commitment to infrastructure development, security, MSME growth and investment promotion.

Presenting the implementation status of resolutions from the 16th National Council meeting, the Director of Policy, Planning, Research and Statistics, Mrs Iya Gamawa, reported significant progress on the 22 resolutions adopted at the previous session.

Gamawa said achievements had been recorded in digital trade facilitation, industrial development, AfCFTA implementation, MSME support, infrastructure development and evidence-based industrial policy.

She disclosed that more than 40,000 exporters had been onboarded onto the Nigerian Export Promotion Council’s digital export registration platform.

According to her, strengthened regulatory systems, expansion of Special Economic Zones and improved access to finance have continued to enhance Nigeria’s business environment.

She added that the ministry had advanced plans for a N350 billion MSME Development Fund to accelerate enterprise growth.

Gamawa said 2026 marked the first full year of implementing the Nigeria Industrial Policy (2025 to 2035).

She said this prioritises industrialisation, strategic value chains, digital transformation and stronger partnerships to drive sustainable economic growth and position Nigeria among the world’s leading economies. (THISDAY)

Update news