The Federal Government has reaffirmed its commitment to achieving a $1 trillion economy by 2030, leveraging domestic investment initiatives to drive its 8-point Renewed Hope Agenda.

Speaking at a Domestic Investment Summit in Abuja on Monday, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the government is accelerating economic diversification through focused reforms in industrialisation, digitisation, manufacturing, innovation, and the creative economy.

The summit, themed “Operationalising the Nigeria First Policy,” aimed to engage key stakeholders in shaping Nigeria’s economic future.

Dr. Oduwole said President Bola Tinubu has set an ambitious target to grow the economy to $1 trillion by 2030. “The Nigeria First Policy is the roadmap for turning ambition into productivity, and productivity into global competitiveness,” she said.

She highlighted some early achievements, including a 24.75% increase in non-oil exports in Q1 2025, reaching $1.79 billion. She also noted the emergence of new textile parks, auto plants, and food hubs in Special Economic Zones — initiatives that are reducing import dependency, saving foreign exchange, creating jobs, and establishing Nigeria as a manufacturing hub for ECOWAS and the continent.

According to her, the President instructed the ministry to convene the summit as a strategic session with major domestic investors to co-develop actionable policies and reforms.

“At the beginning of the year, we set clear targets for 2025: $6 billion in FDI and portfolio investments, $6.5 billion in non-oil exports, a 20% increase in trade value, and 200,000 new export-led jobs,” Oduwole stated.

She added that targeted investment roadshows and strategic partnerships have already secured over $50 billion in commitments, boosting investor confidence and reinforcing Nigeria’s position as a viable investment destination.

The minister emphasized that Nigeria’s economic transformation must be rooted in domestic capabilities — fueled by local capital, enterprise, and talent. She reaffirmed the ministry’s commitment to collaborating with the private sector, development partners, and regional bodies to implement impactful, inclusive solutions.

Permanent Secretary of the ministry, Amb. Nura Rimi, described the summit’s theme as timely and strategic, stressing that the Nigeria First Policy is more than a slogan — it’s a bold commitment to empowering local businesses, strengthening indigenous capacity, and boosting domestic production.

CBN Governor Olayemi Cardoso, represented by Dr. Blaise Ijebor, Director of Risk Management, noted that the summit presents an opportunity to shape a business-friendly environment and open up pathways for Nigerian businesses to access domestic and regional markets.