The federal government has demonstrated its commitment to achieving a $1 trillion economy by 2030 through the domestic investment summit to actualise the eight-point Renewed Hope Agenda.
Jumoke Oduwole, Minister of Industry, Trade, and Investment, said this at the Domestic Investment Summit in Abuja on Monday, tagged “Operationalising Nigeria First Policy.’’
Ms Oduwole said the ministry was accelerating economic diversification through targeted reforms in industrialisation, digitisation, creative economy, manufacturing, and innovation.
She said President Bola Tinubu had set a bold target to achieve a $1 trillion 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 non-oil exports, which rose 24.75 per cent in the first quarter of 2025, reaching $1.79 billion.
“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 the president also directed the ministry to convene the summit as a focus group session with large domestic investors that power the Nigerian economy.
She said the effort was to co-create strategies, policies, and reforms, with clear targets and specific requests for what was needed.
Ms Oduwole added that the commitment would help actualise the eight-point Renewed Hope Agenda, the Nigeria First Policy, and achieve a one trillion 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 $6 billion in foreign direct and portfolio investment.
“Also, $6.5 billion in non-oil exports, a 20 per cent increase in trade value, and 200,000 export-led jobs.
“Through targeted investment road shows and strategic engagements, we have unlocked over $50 billion in commitments.
“This will help to strengthen investors’ confidence, and reposition Nigeria as a credible, forward-looking investment destination,’’ she said.
Nura Rimi, the ministry’s permanent secretary, said the theme of the summit was strategic and timely.
Mr 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 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.
Olayemi Cardoso, the 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.
(NAN)
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