The Federal Ministry of Industry, Trade and Investment generated over $500 million in export revenue during the 2025 fiscal year.
Minister Jumoke Oduwole announced the figures on February 9, 2026, during a budget defense session before the Senate Committee on Trade and Investment.
This revenue growth was driven by new industrial development initiatives aimed at diversifying Nigeria’s economy beyond oil production. The minister noted that these results indicate rising international confidence in the country’s structured trade systems and long-term industrial competitiveness.
Beyond financial gains, the ministry’s interventions facilitated the creation of over 20,000 direct jobs across various industrial sectors. The period also saw the launch of Nigeria’s first National Intellectual Property Policy to protect local innovations and improve trade distribution frameworks.
Activity on the Nigeria Commodity Exchange grew significantly, with traded volumes increasing by more than 500 per cent in 2025. This surge followed the establishment of a national trade company designed to improve market access for local producers and enhance value-chain efficiency.
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Regarding financial performance, the ministry fully utilized its N11.8 billion appropriation for personnel and overhead costs during the year. However, Oduwole revealed that the agency received none of its N3.8 billion capital allocation for the 2025 period.
Despite these funding constraints, the ministry exceeded its internal revenue target by approximately N100 million. All generated funds were successfully remitted to the Consolidated Revenue Fund in accordance with national fiscal regulations and transparency standards.
Addressing the lawmakers, the minister emphasized the need for continued institutional support to expand non-oil exports and industrialize the federation. She stated, “Within available resources, the ministry maintained fiscal discipline and effective planning while requesting support to strengthen our mandate.”
For the 2026 fiscal year, the ministry is proposing a capital allocation of N2.72 billion to sustain its current momentum. Oduwole described this amount as insufficient given the ministry’s broad mandate to drive regional and global competitiveness for Nigerian goods.
These developments occur as Nigeria operates a N58.18 trillion national budget focused heavily on infrastructure and debt servicing. Efficient trade policy remains a critical pillar for the government’s strategy to reduce its fiscal deficit through increased non-oil earnings.
