FG to Deepen Non-Oil Export Drive in 2026

The Federal Government will intensify efforts to expand non-oil exports in 2026 as part of its economic diversification strategy, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has said.

Speaking at a budget defence session before the National Assembly, Oduwole described 2025 as a strong year for trade and investment performance. She disclosed that non-oil exports rose by more than $6 billion in both volume and value, with Nigeria recording a 14 per cent increase in exports compared to the broader African market.

She also revealed that the country attracted $21 billion in capital importation within the first ten months of 2025, marking a significant improvement over previous periods.

According to the minister, special economic zones generated over $500 million in export revenue and created more than 20,000 direct jobs. Total trade during the first three quarters reached approximately N113 trillion, resulting in a trade surplus.

Looking ahead, the ministry plans to strengthen industrial policy through targeted value chain development, expansion of industrial clusters and reinforcement of special economic zones. The proposed capital allocation for the ministry stands at N2.72 billion.

The House Committee on Commerce assured that legislative oversight in the coming fiscal year would focus on ensuring value for money and measurable outcomes, with emphasis on boosting domestic production, supporting small and medium enterprises and expanding trade opportunities.