The Federal Ministry of Industry, Trade, and Investment (FMITI) has announced plans to conduct a nationwide census of Micro, Small, and Medium Enterprises (MSMEs) in 2025 as part of its strategy to drive economic growth and industrial transformation. The initiative, revealed in FMITI’s 2025 outlook document, aims to develop a precise, data-driven roadmap for empowering MSMEs.
Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, described 2025 as a turning point for Nigeria’s economic diversification efforts. She highlighted that FMITI’s policies and reforms will prioritise industrialisation, digitisation, manufacturing, and innovation to accelerate growth and global competitiveness.
Key Objectives for 2025
FMITI’s outlined priorities for 2025 focus on:
• Economic Diversification: Implementing targeted policies to reduce dependence on oil revenue by boosting other sectors, particularly agriculture, technology, and creative arts.
• Trade Revenue Growth: Enhancing trade policy implementation, entering preferential trade agreements, and leveraging the African Continental Free Trade Area (AfCFTA) to boost foreign exchange earnings.
• Investment Mobilisation: Modernising the regulatory framework, launching an investment portal, and creating sub-national One-Stop Investment Centres to attract and track investments effectively.
Industrialisation and Export Promotion
FMITI plans to rehabilitate export processing zones, promote intellectual property protection, and adopt technology and artificial intelligence to advance industrialisation. Collaboration with the Ministry of Agriculture will ensure exportable food products meet international standards, further supporting Nigeria’s push toward an export-led economy.
The ministry also aims to revitalise key industries, including:
• Automotive Industry: Unlocking potential under the Nigerian Automotive Industry Development Plan to foster local manufacturing.
• Agro-Processing Zones: Expanding special zones to enhance value-added agricultural exports.
• Cotton, Textile, and Garment Sectors: Reviving these industries to boost exports and create jobs.
Enhancing Self-Sufficiency
FMITI plans to advance self-reliance in petrochemical, chemical, and pharmaceutical manufacturing through strategic investments, supporting economic sustainability.
Commitment to Transparency
Dr. Oduwole assured stakeholders of the ministry’s commitment to transparent communication, with performance updates to be independently verified by the Central Delivery Coordinating Unit. Minister of State for Industry, Senator John Enoh, emphasised innovation and sustainable growth in the industrial sector, focusing on competitiveness and wealth creation.
With these strategic initiatives, FMITI aims to position Nigeria for sustained economic growth and shared prosperity in 2025 and beyond.
