By Atoyebi Nike
The Federal Government has reiterated its commitment to revitalizing Nigeria’s economic landscape through coordinated policy reforms, following a high-level session of the Economic Management Team (EMT) held in Abuja.
Chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, the meeting focused on aligning trade, investment, and infrastructure strategies to enhance Nigeria’s global competitiveness and improve investor confidence.
A key highlight of the meeting was a presentation by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, who outlined her Ministry’s strategic priorities. These include improving investor retention, fast-tracking export diversification, and addressing regulatory bottlenecks that impede private sector expansion.
The EMT also examined Nigeria’s trade relations with the United States, especially in light of a recent proposal by the U.S. Trade Representative to apply a 14% tariff on Nigerian exports. Discussions reviewed Nigeria’s diplomatic engagements in response, including multilateral talks during the recent U.S.-Africa CEO Forum in Abidjan.
On infrastructure, the Minister of Transportation, Senator Said Alkali, presented an updated fiscal framework for the Ministry and detailed plans for logistical improvements aimed at easing trade flow and reducing supply chain bottlenecks.
The EMT collectively endorsed a reform-focused economic strategy, underscoring the need for transparency, cross-sector collaboration, and private sector-led growth. Emphasis was placed on leveraging non-oil exports to stabilize and grow the economy sustainably.
In closing remarks, Mr. Edun stressed the urgency of aligning economic policies with international standards and reinforcing Nigeria’s image as a dependable destination for investment.
“Now is the time for unified action. By aligning our trade posture with global best practices and ensuring policy consistency, we can unlock greater opportunities for businesses and deepen investor confidence in Nigeria,” Edun stated.
The session marks a renewed commitment by the federal government to drive economic transformation through structural reforms and strategic global partnerships.
