No be small wahala o! The Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole, don carry mouth talk say the N2.72bn wey dem propose for her ministry in 2026 budget no go fit carry Nigeria trade and investment agenda go anywhere. She yarn this one when she waka come Senate Committee on Trade and Investment to defend the plans for her ministry.
According to Oduwole, that small amount no go fit deliver the kind programmes wey go help push Nigeria’s industrial growth and attract investors. She beg the National Assembly make dem increase the capital funding sharp sharp because without proper money, the ministry go just dey there dey chop dust instead of helping President Bola Tinubu’s Renewed Hope Agenda.
Oduwole talk say this ministry dey crucial to help Nigeria diversify economy way from oil and make all the local and foreign investors carry their money come chop. “The N2.72bn wey dem propose go just be a stretch to meet our needs,” she spill for the senators dem.
Senator Umar Sadiq, wey be the chairman for the committee, don agree say the ministry na major player for the country economic vision. He talk say for them to achieve the dream of trillion-dollar economy, the industry, trade and investment sectors must shine well. “No need to remind una about the President’s renewal agenda. This ministry must play beta ball to get this goal,” he talk.
Senator Francis Fadahunsi, wey also na chairman for the Committee on Industry, don caution say dem need to see as this ministry dey impact the lives of citizens. He yarn say job creation, export growth, and beta industrial development na things wey dey key to the economic revival agenda.
Oduwole don also give report wey show say Nigeria don waka well well for the past two years, as dem don see about $21bn capital importation within 2025. Compare am with $12bn wey dem get in 2024 and the less than $4bn wey dey show for 2023, this one don make people dey reason say her ministry dey try.
She also talk say the ministry dey work on over $5bn in bankable projects and don fix over 50 major investor problems. E no stop there o! Dem don also carry out over 100 bilateral talks with countries like UK, USA, UAE, Brazil and Japan. Omo, na serious business dem dey do.
When we talk trade performance, that minister lady no keep quiet. She show say Nigeria don get trade surplus for 2025, with total trade wey dey reach ₦113 trillion in the first three quarters. Exports don also grow by 11%, bringing about $6.1 billion in the pocket. Na this one be the highest wey Nigeria don ever see!
Oduwole sef talk say the ministry’s efforts don lead to 14% increase for intra-African trade. Na wah o! For the industrial area, special economic zones don generate over $500m and create over 20,000 jobs just in 2025 alone.
But the bad side be say funding issues dey limit how far dem fit go. She don talk say while the overhead costs dey fully utilized, capital fund release don dey inconsistent. Na sad story o, because no capital funds enter the ministry for 2025.
The senators dem dey reason am well, as dem observe say the 2026 budget wey dem propose na just rollover from 2025 without enough money for new ideas. But Oduwole still maintain say with the little wey dey inside, dem still need more capital funding to do work well.
She talk say the ministry dey programmed-based and no dey generate money by themselves like others. “We dey facilitate investment, solve waec questions, open market for Nigeria products. To run this work well, we need beta capital,” she insist.
Oduwole don also talk say dem go make plans for non-oil export promotion, deepen AfCFTA implementation, use drop digital investor and trade platforms, and extend support to local government levels. Then go spread this plan across all six geopolitical zones in 2026, wey go hard if dem no get beta funds.
The senators don promise say dem go take time study the ministry’s concerns as dem dey carry out tho their scrutiny of the 2026 budget. Dem note the pressure wey dey come from many agencies for adequate funding, assuring say dem go fund critical economic ministries well to ensure growth and create jobs for the people.
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