The Federal Government has demonstrated its commitment toward achieving a one trillion dollar economy by 2030 through a domestic investment summit to actualise the 8-point Renewed Hope Agenda.
Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, said this at a Domestic Investment Summit in Abuja on Monday.
The theme of the summit was tagged, “Operationalising Nigeria First Policy.’
Oduwole said the ministry was accelerating economic diversification through targeted reforms in industrialisation, digitisation and creative economy, manufacturing, and innovation.
She said President Bola Tinubu had set a bold target to achieve a one-trillion-dollar economy by 2030.
“The Nigeria First Policy is how we will actualise that vision by turning ambition into productivity and productivity into competitiveness.
“We are already taking actions, which include the fact that non-oil exports rose 24.75 percent in the first quarter of 2025, reaching 1.79 billion dollars.
“New textile parks, auto plants, and food hubs are springing up in our Special Economic Zones.
“These facilities are producing locally for our domestic market, saving billions in foreign exchange, creating jobs on a large scale, and positioning Nigeria as the manufacturing hub for ECOWAS and Africa,’’ she said.
The minister said that the president also directed the ministry to convene the summit as a focus group session for large domestic investors that power the Nigerian economy.
She said that the effort was to co-curate strategies, policies, and reforms, with clear targets and specific requests of what was needed.
She added that the commitment would help to actualise the 8-point Renewed Hope Agenda and the Nigeria First Policy and achieve the one-trillion-dollar economy by 2030.
According to her, at the start of the year, the ministry laid out a clear strategy with bold 2025 targets, which include six billion dollars in foreign direct and portfolio investment.
“Also, 6.5 billion dollars in non-oil exports, a 20 percent increase in trade value, and 200,000 export-led jobs
“Through targeted investment road shows and strategic engagements, we have unlocked over 50 billion dollars in commitments.
“This will help to strengthen investors confidence and reposition Nigeria as a credible, forward-looking investment destination,’’ she said.
Jumoke said that the summit was a shared affirmation that Nigeria’s economic transformation must be built on a foundation of domestic strength, anchored in Nigerian capital, enterprise, and talent.
She said the ministry would continue to partner with private sectors, development partners, and regional institutions to design and implement practical solutions that deliver impact quickly and inclusively.
Amb. Nura Rimi, Permanent Secretary of the ministry, said that the theme of the summit was both strategic and timely, adding that the Nigeria First policy was not a mere slogan.
Rimi said the first policy was a bold declaration of intent to prioritise Nigerian businesses, promote local production, and strengthen indigenous capacity in all facets of economic life.
He said that the ministry remained committed to creating a more enabling business environment through regulatory reforms, infrastructure enhancement, and improved and strengthened linkages between the government and the private sector.
Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), said the summit would help in building a conducive environment that would attract investors into the country.
Cardoso, who was represented by Dr. Blaise Ijebor, Director of Risk Management of the CBN, said that the summit would share pathways to domestic and regional market growth for Nigerian businesses. (NAN)
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