The Federal Government says it is committed to building a one trillion dollar economy by 2030, using domestic investment and targeted reforms to drive industrial growth and realise the objectives of the Renewed Hope Agenda.
This was disclosed on Monday in Abuja at a Domestic Investment Summit hosted by the Ministry of Industry, Trade and Investment.
The theme of the summit was tagged “Operationalisating Nigeria First Policy.’’
Dr Jumoke Oduwole, Minister of Industry, Trade and Investment said the ministry was accelerating economic diversification through targeted reforms in industrialisation, digitisation and creative economy, manufacturing and innovation.
She said President Bola Tinubu had set a bold target to achieve a one trillion dollars 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 rose 24.75 per cent in first quarter in 2025, reaching 1.79 billion dollars.
“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 that 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 that the effort was to co-curate strategies, policies and reforms, with clear targets and specific requests of what was needed.
She added that the commitment would help to actualise the 8-point Renewed Hope Agenda, the Nigeria First Policy and achieve the 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 six billion dollars in foreign direct and portfolio investment,
“Also, 6.5 billion dollars in non-oil exports, and 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 dollars in commitments.
“This will help to strengthen investors confidence, and reposition Nigeria as a credible, forward-looking investment destination,’’ she said.
Jumoke said that the summit was a shared affirmation that Nigeria’s economic transformation must be built on a foundation of domestic strength, anchored in Nigerian capital, enterprise and talent.
She said the ministry would continue to partner private sectors, development partners, and regional institutions to design and implement practice solutions that deliver impact quickly and inclusively.
Amb. Nura Rimi, Permanent Secretary of the ministry, said that the theme of the summit was both strategic and timely, adding that the Nigeria first policy was not a mere slogan.
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 that the ministry remained committed to creating a more enabling business environment through regulatory reforms, infrastructure enhancement, improved and strengthened linkages between government and private sector.
Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), stated that the investment summit is a vital step toward creating a more enabling and investor-friendly business climate in the country. He emphasized that such initiatives are essential for attracting both local and foreign investments to boost economic growth.
Speaking through Dr Blaise Ijebor, Director of Risk Management at the CBN, Cardoso noted that the summit aimed to outline practical strategies for expanding Nigeria’s presence in both domestic and regional markets. He said the discussions would help shape policies that empower Nigerian businesses to thrive competitively across the continent.
