Nigeria’s Trade Minister, Uzoka-Anite Declares that the New Trade Policy Paves the Way for Economic Diversification

Dr. Doris Uzoka-Anite, the Minister of Industry, Trade, and Investment, asserts that the recently amended Nigeria Trade Policy document (2023-2027) serves as a strategic roadmap, steering the country’s trade, industry, and investment sectors towards prosperity. Uzoka-Anite highlights the removal of bottlenecks, simplification of trade processes, and the implementation of extensive reforms to unlock economic potential and facilitate diversification away from reliance on oil commodities.

Speaking at the Nigeria Trade Dialogue in Abuja, hosted by the National Export Promotion Council (NEPC) under the theme ‘Trade as a catalyst for economic diversification,’ the minister encourages stakeholders to leverage trade for growth and collaboration.

Uzoka-Anite recognizes Nigeria’s critical juncture, emphasizing that the President Bola Tinubu-led administration’s economic reforms and identification of underlying issues will pave the way for promising trade opportunities. She underscores the pivotal role of trade in national growth, pledging to address impediments to growth through ongoing dialogue with stakeholders and fostering partnerships with the private sector.

Acknowledging global economic challenges, Uzoka-Anite highlights President Tinubu’s commitment to pragmatic and lasting solutions through the Renewed Hope Agenda. The agenda aims to attract foreign investment, boost exports, create jobs, and prioritize value addition in non-oil exports.

Citing positive trade figures from the National Bureau of Statistics, the minister envisions Nigeria’s rise into a new era, reclaiming its status as the giant of Africa in trade and economic prowess. She commends the establishment of the National Quality Council (NQC) to regulate goods, reduce substandard imports, and create healthy competition in the business environment.

While urging patience, Uzoka-Anite assures Nigerians of the administration’s dedication to delivering democracy dividends through job creation, ease of doing business, economic potential realization, and improved homegrown products. She emphasizes the Nigeria Trade Dialogue as a platform for forging partnerships and exploring opportunities, fostering a holistic approach to economic and human development.

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