Exports could help expand Nigeria’s economic productivity and deepen growth across key sectors, according to Minister of Industry, Trade, and Investment, Jumoke Oduwole.
Oduwole, who spoke at the World Trade Center (WTC) in Abuja, encourages collaboration between the public and private sectors to better position Nigeria in global trade despite policy challenges.
However, she insisted that the opportunities presented by the African Continental Free Trade Agreement (AfCFTA) will enable business owners to expand their local products internationally.
“Exports are Nigeria’s future. The current currency challenges, though difficult, present a unique opportunity. Local products have become more affordable on the global stage, giving Nigerian businesses an edge in exports. We are committed to handholding SMEs through the export process. With AfCFTA eliminating trade barriers, Nigerian businesses can now expand across the continent seamlessly,” she said.
Oduwole further stated that the federal government wants entrepreneurs to understand that they can export products directly from Nigeria and earn foreign currency.
“Nigerian services are highly competitive globally. With the right regulatory environment, businesses can earn foreign exchange while operating locally. We want every entrepreneur to know that they can export their services directly from Nigeria,” she added.
She further noted that achieving a thriving ecosystem for trade and investment requires the active involvement of the private sector.
“The federal government is actively courting foreign investments, but we need the private sector to mirror these efforts. Together, we can create a thriving ecosystem for trade and investment,” she stated.
