Capital importation into Nigeria increased from approximately $3.9 billion in 2023 to over $23 billion in 2025.
New Portal Targets Global Export Markets
Minister of Industry, Trade and Investment Dr. Jumoke Oduwole announced the launch of a new set of trade intelligence tools in Abuja. The portal serves as a central hub for trade data, tariff information, and market-entry requirements, designed to help local businesses identify export markets and increase competitiveness. This initiative forms a core component of the government’s target to reach a $1 trillion economy by 2030.
Export Reaches N12 Trillion Milestone
Alongside the surge in capital inflow, Nigerian exports reached a value of roughly N12 trillion during the same period. Nigerian products are currently exported to more than 120 countries, while intra-African trade saw a 21 percent increase in 2025.
Tackling High Production Costs and Logistical Hurdles
Despite these figures, the ministry identified persistent obstacles that hinder business operations. Dr. Oduwole cited high production costs, limited access to finance, logistics challenges, and complex trade procedures as primary constraints. To address these, the government has moved to clear outstanding Export Expansion Grant claims dating up to 2022. A technical working group, led by the Commodities Export Department, has been given a 60-day mandate to develop a comprehensive reform framework for the grant scheme to ensure future transparency and sustainability.
Lagos Prepares for CANEX Weekend 2026
The government is preparing to host CANEX Weekend 2026 in Lagos State from November 5 to 8. Dr. Oduwole described the event as a platform to commercialize creative talent and serve as a precursor to the 2027 Intra-African Trade Fair, which will also be held in Lagos. Government agencies have been directed to track business partnerships generated during these events to ensure they translate into measurable economic transactions.
Bridge-in Agriculture Pitch Competition Deadlines
As the government pushes for broader industrial development, young entrepreneurs in the agricultural sector have until November 9, 2026, to apply for the BRIDGE-in Agriculture Pitch Competition. Supported by the Mastercard Foundation and implemented in partnership with CrossBoundary Advisory, the initiative is open to applicants aged 18 to 35 who operate revenue-generating businesses within the agricultural value chain. Participants are expected to present plans that address specific sector challenges and demonstrate measurable impact on their communities.
What Is the New Trade Intelligence Portal?
What is the purpose of the new trade intelligence portal?
The portal provides Nigerian exporters with reliable data on international markets, tariff structures, and regulatory requirements to help them make informed production and investment decisions. It consolidates various ministry policies and interventions into a single, accessible platform.
How does the government plan to reform the Export Expansion Grant?
The ministry has inaugurated a technical working group with a 60-day mandate to create a framework that makes the incentive scheme more predictable and financially sustainable. This follows a presidential directive to clear all outstanding grant claims that remained unpaid as of 2022.
Who is eligible for the BRIDGE-in Agriculture Pitch Competition?
Eligible applicants must be between 18 and 35 years old and run a revenue-generating business in the agricultural value chain. The competition aims to support small and medium-sized enterprises that provide solutions to agricultural supply-chain challenges or improve food processing and distribution.
The current trade intelligence initiative follows a period of significantly increased capital importation, as the administration now focuses on translating macroeconomic stability into industrial production.
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