Determined to enhance production and economic growth, the Federal Government has reiterated its commitment to reducing the cost of transporting goods and services across air, land and sea.
Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole at the ministerial briefing organized by the Ministry of Information and Cultural Orientation in Abuja, reviewed efforts to introduce direct cargo freight services across Africa, enable Nigerian traders to move goods more efficiently.
Oduwole stressed that lowering cargo freight costs is a key priority for the ministry.
“We are exploring direct cargo freight across Africa for our traders because Nigerians engage in significant trade. This will help bring them together. We aim to lower cargo freight costs. That is one of the key initiatives the ministry is undertaking to fulfil our mandate,” she said.
The minister also highlighted ongoing partnerships with Independent Power Producers, IPP, to enhance electricity supply, a move expected to drive industrial growth.
“This partnership with the private sector aims to enhance power supply, which will significantly boost the country’s economic growth,” she stated.
To further ease trade, the ministry is working on streamlining tariff schedules and simplifying customs and immigration procedures. Collaborative efforts with the Nigeria Customs Service and the Nigeria Immigration Service aim to remove bottlenecks in trade facilitation.
The government is also focused on making Nigeria a more attractive investment destination by ensuring a conducive business environment and favorable tariffs. Oduwole emphasized that engagements with the fiscal and monetary authorities remain crucial to supporting trade and industry policies.
She pointed out that Nigerian businesses are already expanding across Africa, taking advantage of emerging opportunities ahead of government-led initiatives.
To achieve its objectives, the ministry has strengthened partnerships with key sectors, including agriculture, tourism, and digital economy, to create a thriving industrial and trade environment.
“We are working closely with the Ministry of Agriculture and Food Security, the Ministry of Arts, Culture, Tourism and Creative Economy, and the Ministry of Communication, Innovation and Digital Economy. Through these partnerships, we aim to create an environment where investment, industry, and trade can thrive within Nigeria’s economy,” Oduwole stated.
The government’s push for reduced transport costs, improved infrastructure, and policy reforms is expected to enhance business operations and strengthen Nigeria’s position in global trade.
NAN
