By Maryanne Awuya
The Federal Government has unveiled new trade intelligence tools to help Nigerian businesses access international markets, attract investments and support the country’s ambition of building a $1 trillion economy by 2030.
The tools, launched by the Federal Ministry of Industry, Trade and Investment (FMITI) in Abuja on Thursday, are designed to provide businesses, particularly micro, small and medium-sized enterprises (MSMEs), with market information to identify export opportunities, understand tariffs and international standards, and connect with potential buyers.
Minister of Industry, Trade and Investment Dr. Jumoke Oduwole said economic reforms must translate into increased production, export growth, industrial expansion and job creation.
She identified high production costs, limited access to finance, logistics challenges and complex trade procedures as some of the barriers affecting Nigerian businesses’ competitiveness.
Oduwole said: “The next phase of the country’s economic transformation must focus on expanding domestic production and ensuring that government policies deliver measurable benefits to businesses and citizens.”
She also highlighted reforms in the Export Expansion Grant Scheme, Free Trade Zones and Nigeria’s trade negotiation framework.
The minister further identified the Creative Africa Nexus Weekend (CANEX WKND) 2026, scheduled for November 5 to 8 at the National Theatre in Lagos, as an opportunity to connect Nigeria’s creative industries with investors, buyers and international markets.
PerSecondNews reports that the event is expected to attract about 10,000 participants, according to the ministry.
Permanent Secretary of the ministry Dr. Chris Osa Isokpunwu, said credible trade intelligence was essential for effective policymaking, trade facilitation and business growth.
He urged the ministry’s departments and agencies to adopt and sustain the use of the tools to improve coordination, accountability and service delivery.
The initiative builds on the first edition launched in November 2025. It includes the 2026 Trade Intelligence Report, which examines trade and investment developments in 2025, as well as a report on performance in the first half of 2026.
The reports cover export and import trends, investment inflows, global and regional economic developments, trade agreements, and the outcomes of government policies and programmes.
The ministry said the initiative would support data-driven policymaking, expand market access, strengthen domestic production and attract investments capable of creating jobs and supporting sustainable economic growth.
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