The Ministry of Industry, Trade and Investment generated over $500 million in export revenue in 2025, driven by industrial development and economic diversification, Minister Jumoke Oduwole has said.
Oduwole made the disclosure on Monday while appearing before the Senate Committee on Trade and Investment to defend the ministry’s 2026 budget proposal.
According to the minister, the ministry’s programmes created more than 20,000 direct jobs during the period, reflecting tangible gains in employment and industrial engagement.
She highlighted the significant growth of activities on the Nigeria Commodity Exchange, where traded volumes surged by over 500 percent in 2025, signalling expanding market participation and economic activity.
The minister also announced progress on strategic initiatives, including the establishment of a national trade and distribution company, designed to strengthen structured commodity trade and improve market access for Nigerian producers.
Oduwole added that the Federal Executive Council approved the national industrial policy in November 2025, alongside the National Intellectual Property Policy, further reinforcing the government’s commitment to industrialisation and trade expansion.
On budget performance, she noted that the ministry’s 2025 appropriation amounted to N11.8 billion, with personnel and overhead costs fully utilised. However, aside from the N3.8 billion allocated to capital expenditure, no additional funds had been released to the ministry.
