Nigeria’s Federal Ministry of Industry, Trade and Investment recorded more than $500 million in export revenue in 2025, reflecting the impact of ongoing industrial and trade reforms aimed at diversifying the economy away from oil dependence.

The disclosure was made by the Minister, Dr Jumoke Oduwole, during her appearance before the Senate Committee on Trade and Investment, where she defended the ministry’s 2026 budget proposal.

According to the minister, the export earnings were supported by targeted industrial development programmes, improved commodity market structures, and policy initiatives designed to strengthen Nigeria’s competitiveness in regional and global trade.

Beyond export revenue, Oduwole said the ministry’s interventions contributed to job creation, market efficiency, and policy coordination, even as funding limitations constrained the scale of implementation during the year.

She told lawmakers that the ministry’s programmes produced measurable improvements in employment, structured trade participation, and confidence in formal commodity markets.

Oduwole highlighted the launch of Nigeria’s first National Intellectual Property Policy in 2025, describing it as a foundational step toward strengthening trade, innovation, and value creation across industries.

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She also noted that the ministry maintained fiscal discipline through effective planning and accountable use of public funds, despite limited resources.

Looking ahead, the minister said the ministry plans to deepen trade impact at the sub-national level through structured zonal and state engagements under the National AfCFTA Tour, aimed at strengthening local value chains and state-level ownership of trade outcomes.

She urged lawmakers to continue supporting the ministry’s mandate to expand trade, attract investment, promote industrial growth, and support long-term economic transformation.

Oduwole added that more than 20,000 direct jobs were created in 2025 through trade- and industry-related initiatives. Activity on the Nigeria Commodity Exchange also rose sharply, with traded volumes increasing by over 500 per cent, signalling stronger participation and market confidence.

She further revealed that approval was secured for the National Industrial Policy, providing a framework for long-term industrial competitiveness and economic development.