Oluwafunbi Bello 
Nigeria Trade Minister, Jumoke Oduwole presenting export revenue figures
LAGOS, Nigeria – Nigeria’s Ministry of Industry, Trade and Investment records more than $500 million in export earnings in 2025 and creates over 20,000 direct jobs, as the government intensifies efforts to diversify the economy away from oil.
The Minister, Dr Jumoke Oduwole, discloses the figures on Monday while defending the ministry’s 2026 budget proposal before the Senate Committee on Trade and Investment, stressing that limited capital funding threatens momentum.
She reports a 500 per cent surge in trading volumes on the Nigeria Commodity Exchange, attributing the growth to structured commodity reforms and improved market access.
“Revenue performance exceeds our target by about ₦100 million, and we remit fully to the Consolidated Revenue Fund,” Oduwole says.
Despite the gains, the minister says the ministry receives no release from its ₦3.8 billion capital allocation in 2025, with spending restricted to personnel and overhead costs. She warns that the proposed ₦2.72 billion capital budget for 2026 is insufficient to meet rising programme demands.
Oduwole outlines priorities aligned with the National Development Plan, including industrial clusters, special economic zones, and targeted value-chain development to scale non-oil exports. She adds that the ministry plans a National AfCFTA Tour and zonal engagements to deepen state-level ownership of trade outcomes.
“We must strengthen industrial development, expand trade, and attract sustainable investment across the federation,” she tells lawmakers.
She urges the Senate to increase capital funding to ensure effective delivery of industrial and trade reforms.
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