By Excellence Oseose
The Federal Government has launched Trade Intelligence Tools to help Nigerian businesses access international markets, attract investments and strengthen the country’s export competitiveness as part of efforts to achieve a $1 trillion economy by 2030.
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, disclosed this during the launch in Abuja on Thursday, saying the initiative would provide businesses, particularly micro, small and medium-sized enterprises (MSMEs), with reliable market information to make informed commercial decisions.
She explained that the tools would enable businesses to identify export destinations, understand tariffs and international standards, and connect with potential buyers across global markets.
Oduwole stressed that Nigeria’s economic reforms must translate into increased production, expanded exports, stronger local industries and sustainable job creation.
“The next phase of our economic transformation must focus on expanding domestic productive capacity and ensuring that government policies deliver measurable benefits for businesses and citizens,” she said.
The minister identified high production costs, limited access to finance, logistics challenges and complex trade procedures as major barriers affecting business competitiveness, adding that the government must address them to support economic growth.
She also highlighted ongoing reforms in the Export Expansion Grant Scheme, Free Trade Zones and Nigeria’s trade negotiation framework as part of efforts to strengthen the country’s trade and investment environment.
Oduwole 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 international investors, buyers and markets.
The event is expected to attract approximately 10,000 participants and create opportunities for partnerships, investment and the promotion of African creative products.
In his opening remarks, the Permanent Secretary of the ministry, Dr. Chris Osa Isokpunwu, described credible trade intelligence as essential to effective policymaking, trade facilitation and business development.
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 inaugural edition launched in November 2025 and features the 2026 Trade Intelligence Report, which examines trade and investment developments in 2025, alongside a report on performance during the first half of 2026.
The reports analyse export and import trends, investment inflows, global and regional economic developments, trade agreements, and the outcomes of government policies and programmes.
The launch also featured a presentation on the Road to CANEX, a demonstration of the Trade Intelligence Portal and an interactive session.
The ministry said the initiative would strengthen data-driven policymaking, expand market access, support domestic production and attract investments capable of generating jobs and sustainable economic growth.
