{
  "id": 13004659,
  "title": "Oduwole Lists FMITI’s Contributions Toward Attaining Nigeria’s Aspiration for $1trn Economy",
  "url": "https://urgent.news/2026/10/09/oduwole-lists-fmitis-contributions-toward-attaining-nigerias",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-09T01:57:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/10/09/oduwole-lists-fmitis-contributions-toward-attaining-nigerias-aspiration-for-1trn-economy/"
  },
  "original_language": "en",
  "account": "Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, outlined the Federal Ministry's efforts in supporting Nigeria's goal to achieve a $1 trillion economy by 2030. In a report presented to the Economic Management Team on October 6, 2025, she highlighted significant increases in various sectors, including a 40.6% rise in vehicle assembly, 474.74% growth in cassava starch production, and a 16.67% increase in light electronics production. Foreign direct investments inflow also surged to $0.92 billion in 2025, up from $0.38 billion in 2023. The non-oil share of Nigeria's exports grew from 11.7% in 2024 to 14.5% in 2025, with non-oil export revenue reaching N12.36 trillion. Intra-African trade expanded by 21%, and the issuance of Certificates of Origin increased by 500%. Other achievements include a 24,668-tonne traded volume on the Nigeria Commodity Exchange and N4 billion traded value. Oduwole emphasized the ministry's mission to unlock global and regional demand, strengthen domestic industrial capacity, mobilize strategic investments, and leverage data, AI, digital infrastructure, and communication. She also mentioned the modernization of regulatory architecture, strengthening bilateral investment frameworks, and centralizing investment engagements with ministries and state governments. The ministry's strategic focus includes achieving real growth in manufacturing sub-sectors and scaling financing for SMEs and large enterprises through the Bank of Industry and Nigeria Export and Import Bank.",
  "summary": "Dike Onwuamaeze The Federal Ministry of Industry, Trade and Investment’s (FMITI) implementation of Nigeria’s quest to attain a $1trillion economy by 2030 has increased the country’s capital importation from $3.91",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}