The Federal Ministry of Industry, Trade, and Investment has announced plans to conduct a national census of Micro, Small, and Medium-sized Enterprises (MSMEs) in 2025 as part of its industrial transformation and economic growth strategy. This initiative was revealed in the FMITI 2025 overview paper, signed by Dr Jumoke Oduwole, Minister of Industry, Trade, and Investment.
The census of MSMEs is seen as a crucial step in establishing a data-driven roadmap for empowering these businesses nationwide. Minister Oduwole emphasized the significance of 2025 as a pivotal year for Nigeria’s economic diversification efforts. The ministry aims to achieve measurable results through strategic initiatives and policy reforms.
In order to drive industrialization, digitization, creative arts, manufacturing, and innovation, the Federal Ministry of Industry, Trade, and Investment has implemented various policies and reforms. This marks the beginning of a new chapter in Nigeria’s economic diversification journey.
Minister Oduwole highlighted the ministry’s focus on ensuring the success of businesses in both local and international markets, promoting private sector competitiveness, and enhancing trade policy implementation. The ultimate goal is to foster wealth creation, productive employment, and shared prosperity for all Nigerians.
The ministry’s actions in 2025 will center around three key areas: investment mobilization, trade revenue growth, and economic diversification. Efforts will include reviving export processing zones, prioritizing intellectual property protection, and fostering trade and investment in technology and artificial intelligence.
Furthermore, collaborations with the Ministry of Agriculture will ensure that exportable food items meet international safety standards. The ministry also plans to update trade and investment policies to promote an export-led economy.
To boost foreign exchange revenues, Minister Oduwole underscored the importance of the African Continental Free Trade Area in facilitating trade and negotiating preferential agreements with key nations. The ministry will focus on retaining domestic investors, enhancing the legal framework, establishing One-Stop Investment Centers at subnational levels, and creating an investment portal to facilitate and monitor investment flows comprehensively.
Minister Oduwole reassured stakeholders of the ministry’s commitment to transparency and collaboration by providing regular updates on performance, independently verified by the Central Delivery Coordinating Unit. This commitment aims to foster open communication and cooperation with all relevant parties.
