Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, says the country’s economy is showing strong signs of recovery, driven by sustained growth, easing inflation and renewed interest from local and foreign investors.
Oduwole made the remarks while speaking during an interview on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland.
According to the minister, Nigeria’s economic reforms, infrastructure upgrades and expanding global partnerships are reshaping the country’s outlook and positioning it for sustained growth.
“The growth is over 4% and projected to continue growing strongly by the World Bank, highest in over a decade. Inflation has halved between 2024 and 2025,” she said.
She noted that ongoing reforms in trade facilitation are improving the ease of doing business, particularly at the nation’s ports.
“We have a single window project that’s going live at the end of this quarter. When investors make decisions, they look at whether they can do business efficiently, and the reforms we are implementing are helping to unlock that confidence,” Oduwole said.
On Nigeria’s trade ties with the United States, the minister described the relationship as strategic and mutually beneficial.
“The United States remains our strong strategic partner. We launched a commercial investment partnership in June last year. U.S. businesses work very closely with Nigerian businesses, and businesses simply want to do business,” she said.
Oduwole added that Nigeria is focused on long-term economic transformation through improved infrastructure, export expansion and enhanced trade access, while also playing a leadership role under the African Continental Free Trade Area (AfCFTA).
She revealed that Nigeria has opened air cargo corridors with 13 African countries, a move she said has cut freight costs for exporters by about half and strengthened regional trade.
The minister described Nigeria’s debut of the ‘Nigeria House’ platform at the Davos WEF as an opportunity to present the country’s reform agenda, trade priorities and investment opportunities to global investors and policymakers.
