Abuja: The Federal Government has demonstrated its commitment toward achieving a one trillion dollars economy by 2030 through a domestic investment summit aimed at actualizing its 8-point Renewed Hope Agenda. Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, made this announcement at a Domestic Investment Summit held in Abuja.
According to News Agency of Nigeria, the summit, themed 'Operationalising Nigeria First Policy,' was a platform for the government to accelerate economic diversification through targeted reforms in industrialization, digitization, creative economy, manufacturing, and innovation. Dr. Oduwole emphasized that President Bola Tinubu has set a bold target to achieve a one trillion dollars economy by 2030, with the Nigeria First Policy playing a pivotal role in transforming ambition into productivity and competitiveness.
The minister highlighted that non-oil exports rose by 24.75 percent in the first quarter of 2025, reaching 1.79 billion dollars. She noted the development of new textile parks, auto plants, and food hubs in Special Economic Zones, which are producing for the domestic market, saving foreign exchange, creating jobs, and positioning Nigeria as a manufacturing hub for ECOWAS and Africa.
President Tinubu directed the ministry to convene the summit as a focus group session for large domestic investors critical to the Nigerian economy. Oduwole added that this effort aims to co-curate strategies, policies, and reforms with clear targets and specific requests to realize the 8-point Renewed Hope Agenda and the one trillion dollars economy by 2030.
At the start of the year, the ministry outlined a strategy with bold 2025 targets, including six billion dollars in foreign direct and portfolio investment, 6.5 billion dollars in non-oil exports, a 20 percent increase in trade value, and 200,000 export-led jobs. Through targeted investment roadshows and strategic engagements, they have unlocked over 50 billion dollars in commitments to bolster investor confidence and reposition Nigeria as a credible investment destination.
Dr. Oduwole affirmed that the summit was a testament to building Nigeria's economic transformation on domestic strength, utilizing Nigerian capital, enterprise, and talent. The ministry plans to continue partnering with private sectors, development partners, and regional institutions to implement practical solutions that deliver rapid and inclusive impact.
Ambassador Nura Rimi, Permanent Secretary of the ministry, remarked that the summit's theme was strategic and timely, asserting that the Nigeria First Policy is a commitment to prioritize Nigerian businesses, promote local production, and strengthen indigenous capacity across economic sectors.
Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria, represented by Dr. Blaise Ijebor, Director of Risk Management at CBN, stated that the summit aims to establish a conducive environment to attract investors and share pathways for domestic and regional market growth for Nigerian businesses.