The Federal Government says the implementation of its Renewed Hope Agenda has attracted more than $24.1 billion in capital importation while generating over $6.1 billion in non-oil export earnings as part of efforts to strengthen the country’s economy. The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, disclosed this at the technical session of the 17th National Council on Industry, Trade and Investment in Enugu, where she was represented by the ministry’s Permanent Secretary, Dr Chris Isokpunwu. Her remarks were contained in a statement issued on Tuesday by the ministry’s Head of Press and Public Relations, Mrs Augustina Obilor-Duru. What they are saying Oduwole said the Federal Government has supported more than 115,000 Micro, Small and Medium Enterprises (MSMEs) as part of its strategy to build a $1 trillion economy, adding that the administration remains focused on expanding industrial production, attracting investment, creating jobs and increasing exports. She said the government’s ongoing reforms include the rollout of the National Single Window, trade facilitation measures, digital public infrastructure and the implementation of the African Continental Free Trade Area (AfCFTA) to improve Nigeria’s competitiveness and ease of doing business. Presenting an update on the implementation of resolutions from the 16th National Council meeting, the ministry’s Director of Policy, Planning, Research and Statistics, Mrs Iya Gamawa, said significant progress had been made across the 22 resolutions adopted at the previous session.
According to her, more than 40,000 exporters have been onboarded onto the Nigerian Export Promotion Council’s digital export registration platform, while regulatory reforms, the expansion of Special Economic Zones and improved access to finance have strengthened the business environment. She added that the ministry is advancing plans to establish a N350 billion MSME Development Fund to accelerate enterprise growth, noting that 2026 marks the first full year of implementing the Nigeria Industrial Policy (2025–2035). More insights The latest figures come as Nigeria continues efforts to diversify its export earnings away from crude oil by strengthening non-oil exports and expanding its manufacturing and agricultural value chains. Data from the National Bureau of Statistics (NBS) show that non-oil exports reached N3.19 trillion in the first quarter of 2026, up from N3.15 trillion in the previous quarter and N3.17 trillion in the corresponding period of 2025.
The improved performance contributed to Nigeria’s N7.55 trillion merchandise trade surplus during the quarter, driven by stronger exports and lower imports. The country’s non-oil exports also recorded robust growth in 2025, rising to N12.36 trillion between January and December from N9.09 trillion in 2024, reflecting sustained momentum in export activities outside the petroleum sector. What you should know Capital importation refers to foreign investments flowing into Nigeria through channels such as portfolio investments, foreign direct investment and other financial assets, making it an important indicator of investor confidence in the economy. Nigeria attracted $10.37 billion in capital importation during the first quarter of 2026, representing an 83.8% increase from $5.64 billion recorded in the corresponding period of 2025. The increase was largely driven by stronger foreign investment in money market instruments and bonds.
The inflows also increased by 61% compared with $6.44 billion recorded in the fourth quarter of 2025, indicating sustained investor interest in Nigerian assets. Earlier, capital importation had climbed to $6.01 billion in the third quarter of 2025, a more than fourfold increase from $1.25 billion recorded in the same period of 2024, while also rising from $5.12 billion in the preceding quarter.
