The Federal Government has taken a significant step towards repositioning Nigeria’s economy, as the Economic Management Team (EMT) convened to assess Nigeria’s trade strategy, investment climate, and infrastructure planning.
The session which was chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun today in his office in Abuja underscored the government’s commitment to positioning Nigeria as a competitive, investor-friendly economy through coordinated policy reforms and diplomatic engagement.
A central feature of the meeting was a detailed presentation by the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, who outlined the Ministry’s current priorities. These include improving investor retention, accelerating export diversification, and addressing regulatory inefficiencies that hinder private sector growth.
Of particular focus was Nigeria’s ongoing engagement with the United States following the recent proposal by the U.S. Trade Representative to impose a 14% tariff on Nigerian exports. The EMT reviewed the legal and commercial context surrounding this development, as well as Nigeria’s Diplomatic outreach to Washington and multilateral discussions held during the U.S.-Africa CEO Forum in Abidjan.
In parallel, the Honourable Minister of Transportation, Senator Said Alkali, presented his Ministry’s updated budget framework and infrastructure priorities. These include logistics upgrades and project pipelines aimed at reducing bottlenecks and enhancing Nigeria’s trade facilitation capacity.
The EMT reaffirmed its collective resolve to implement transparent, market-led reforms that support private sector expansion, boost non-oil exports, and deliver sustainable growth across the Nigerian economy.
In his closing remarks, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, emphasized the importance of cross-ministerial coordination, stating:
Now is the time for unified action. By aligning our trade posture with global best practice and ensuring policy consistency, we can unlock greater opportunities for businesses and deepen investor confidence in Nigeria.
With unified action and coordinated policy reforms, Nigeria is poised for a brighter economic future.
Signed
Mohammed Manga FCAI
Director, Information and Public Relations
May 22, 2025
