In a bid to strengthen Nigeria’s economic competitiveness and restore investor confidence, the Federal Government has launched a coordinated review of its trade strategy, investment climate, and infrastructure agenda.
This followed a high-level meeting of the Economic Management Team (EMT) held on Wednesday in Abuja, chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. The meeting brought together key ministers and policymakers to realign Nigeria’s economic priorities with emerging global realities.
A major highlight was a comprehensive briefing by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, who outlined her ministry’s strategic objectives. These include enhancing investor retention, driving export diversification, and dismantling regulatory barriers that stifle private sector growth.
“Nigeria cannot afford to operate in isolation. We are recalibrating our policies to compete globally while protecting local industries,” Dr. Oduwole said during the presentation.
Top on the agenda was Nigeria’s diplomatic response to the recent proposal by the U.S. Trade Representative to impose a 14% tariff on Nigerian exports. The EMT reviewed the implications of the policy shift and Nigeria’s engagement efforts, including high-level dialogues held during the recent U.S.-Africa CEO Forum in Abidjan.
The meeting also received an update from the Minister of Transportation, Senator Said Alkali, who presented revised infrastructure plans aimed at decongesting trade corridors and improving logistics nationwide. The Ministry’s new framework focuses on strategic transport projects that can boost Nigeria’s trade facilitation capacity.
Mr. Edun emphasized that the Federal Government is committed to reforms anchored on transparency, policy stability, and cross-ministerial coordination. “Now is the time for unified action,” he said. “By aligning our trade posture with global best practices, we can unlock fresh opportunities for Nigerian businesses and rebuild investor confidence.”
The EMT’s deliberations signal a renewed push by the Tinubu administration to reposition Nigeria’s economy away from oil dependency and towards a diversified, export-driven future.
With the stakes high and global dynamics shifting, Nigeria appears ready to chart a new course built on reforms, resilience, and results.