As part of its broader agenda for 2026, the government announced plans to conduct a National MSME Census. This effort aims to replace outdated estimates with accurate, verifiable data, ensuring better targeting of incentives and more effective industrial planning. The census is expected to serve as a foundation for policy decisions, enabling the government to measure the impact of its interventions and allocate resources more efficiently. The Ministry of Industry, Trade, and Investment emphasized that reliable data is critical to addressing the challenges faced by small businesses, particularly in accessing finance and scaling operations.
Dr. Jumoke Oduwole, the Minister of Industry, Trade, and Investment, highlighted the progress made in 2025, describing it as a turning point for Nigeria’s trade and industrial sectors. She pointed to a significant increase in capital importation, which reached approximately $21 billion in the first ten months of 2025, up from $12.3 billion the previous year. This growth was attributed to improved investor confidence and a more coordinated approach to economic policy. The ministry also curated a pipeline of bankable projects worth over $5 billion, engaged in numerous bilateral discussions, and tracked over $50 billion in investment commitments from presidential initiatives.
Trade performance in 2025 also showed positive trends, with Nigeria recording total trade valued at N113.03 trillion between the first and third quarters. Exports accounted for N66.16 trillion, reflecting an 11% year-on-year increase and maintaining a favorable trade balance. These gains were supported by strategic measures such as the implementation of the African Continental Free Trade Area (AfCFTA) tariff schedule and the establishment of an air cargo corridor to East and Southern Africa. Additionally, over 100 MSMEs received targeted support for export certification and market readiness, contributing to a surge in non-oil exports, which exceeded $6 billion.
The ministry’s efforts to streamline trade processes led to a 50% reduction in freight costs and a significant decrease in export processing times, now completed in under 24 hours. These improvements were part of a broader push to diversify the economy under the President’s Eight-Point Agenda, which also saw the Nigeria Commodity Exchange achieve remarkable growth, with traded volumes increasing by over 500% and traded value rising by 111% in 2025.
Looking ahead to 2026, the government outlined a four-pillar strategy to sustain momentum: enhancing trade facilitation to unlock global demand, strengthening domestic export capacity, mobilizing investment through coherent policies, and leveraging digital infrastructure for data-driven decision-making. Special attention will be given to women-led businesses, with plans to introduce dedicated financing frameworks to address their unique challenges, including access to long-term capital and integration into priority value chains.
John Enoh, the Minister of State for Industry, underscored the importance of reliable data and execution frameworks in driving industrial progress. He noted that past efforts were often hampered by fragmented policies and insufficient coordination among stakeholders. To counter this, the ministry has prioritized platforms like the Industrial Revolution Working Group, which fosters collaboration between government agencies, private sector players, and financiers. Enoh also stressed the need for inclusive growth, pointing out that women-led enterprises, despite their resilience, continue to face disproportionate barriers in accessing finance.
Other key initiatives for 2026 include the Made-in-Nigeria National Campaign, aimed at promoting local products, and efforts to revitalize industrial clusters and transform the cotton, textile, and garment sectors. The government also plans to advance digital industrial governance, review the performance of privatized industries, and host major trade events such as CANEX 2026 and the Intra-African Trade Fair in 2027.
The Federal Government’s renewed focus on MSMEs reflects a broader commitment to economic diversification and sustainable growth. By addressing data gaps, improving access to finance, and fostering a more cohesive industrial ecosystem, Nigeria aims to create a more resilient and inclusive economy in the years ahead.
