The Federal Government has introduced two five-year policies aimed at revitalising the country’s production and investments in the industry and trade sectors. Dr. Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment, revealed the policies—Nigerian Investment Policy-2023-27 and Trade Policy of Nigeria-2023-27—virtually during the closing of the 15th National Council of Industry, Trade, and Investment in Katsina.
Uzoka-Anite emphasised that these policies form a comprehensive roadmap aligning with President Bola Tinubu’s Renewed Hope Agenda. She stated, “These two policies provide a comprehensive roadmap for boosting Nigerian investment plan, facilitating microeconomic security, restoring the national economic confidence, and boosting the living standard of the citizens.”
The minister highlighted the focus areas of the policies, including investment promotion, production facilitation, and sustainable development. The Trade Policy of Nigeria aims to address sector challenges and foster a competitive trade environment conducive to economic growth. On the other hand, the Nigerian Investment Policy seeks to leverage the country’s comparative advantages to develop the domestic economy and enhance income.
Uzoka-Anite commended participants for their contributions to the policy discussions, emphasising their role in shaping the sector’s development and the country at large.
In response, Governor Dikko Radda, represented by Deputy Governor Alhaji Faruk Lawal, advocated for vigorous pursuit of digitization in the sector to stimulate exports, ease business processes, and increase productivity. He stressed that collective efforts are essential to achieving the set objectives and called on the Federal Government to continue supporting business development for enhanced economic growth.