By: Ekunkonye Junior in Abuja.
The Federal Government has unveiled new trade intelligence tools designed to expand Nigerian businesses’ access to international markets, attract productive investments and support the country’s ambition of building a $1 trillion economy by 2030.
The initiative, introduced by the Federal Ministry of Industry, Trade and Investment (FMITI) in Abuja, is expected to provide businesses, particularly micro, small and medium-sized enterprises (MSMEs), with reliable information to identify export opportunities, understand tariffs and international standards, connect with prospective buyers and make informed commercial decisions.
Speaking at the launch, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the initiative was part of efforts to translate ongoing economic reforms into increased production, expanded exports, stronger domestic industries and sustainable employment.
Oduwole identified high production costs, inadequate access to finance, logistics constraints and complex trade procedures as major challenges affecting business competitiveness. She stressed the need to address these obstacles to enable Nigerian enterprises to compete more effectively in domestic and international markets.
According to the minister, the next phase of the country’s economic transformation must prioritise expanding domestic productive capacity and ensuring that government policies produce measurable benefits for businesses and citizens. She added that investments must result in actual projects, industrial expansion and decent jobs.
The minister also highlighted ongoing reforms involving the Export Expansion Grant Scheme, Free Trade Zones and Nigeria’s trade negotiation framework. She further drew attention to CANEX WKND 2026, scheduled for November 5 to 8 at the National Theatre, Lagos, as a platform for connecting Nigeria’s creative industries with investors, buyers and international markets. The event is expected to attract approximately 10,000 participants.
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 growth. He urged the ministry’s departments and agencies to adopt and sustain the use of the tools to strengthen coordination, accountability and service delivery.
The initiative builds on the first edition launched in November 2025. Its 2026 publications include a Trade Intelligence Report examining trade and investment developments in 2025 and a report on economic and trade performance in 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 featured a presentation on the Road to CANEX, an overview and live demonstration of the Trade Intelligence Portal, and an interactive session. The ministry said the initiative would strengthen data-driven policymaking, strategic partnerships and market access while supporting domestic production, investment attraction, job creation and sustainable economic growth.
