The Federal Ministry of Industry, Trade, and Investment intends to carry out a national census of Micro, Small, and Medium-sized Enterprises (MSMEs) in 2025 as a component of its industrial transformation and economic growth strategy.
This was disclosed in the FMITI 2025 overview paper, which listed the ministry’s top priorities for the upcoming year and was signed by Dr Jumoke Oduwole, Minister of Industry, Trade, and Investment.
According to Oduwole and Senator John Enoh, Minister of State for Industry, the census is an essential step in “conducting a nationwide census to establish a precise, data-driven roadmap for empowering MSMEs.”
Oduwole defined 2025 as a critical year for the nation’s efforts to diversify its economy, promising quantifiable results through strategic initiatives and policy changes.
According to Oduwole, to stimulate industrialisation, digitisation, the creative arts, manufacturing, and innovation, the Federal Ministry of Industry, Trade, and Investment has implemented certain policies and reforms, marking the beginning of a new chapter in Nigeria’s economic diversification.
“The ministry will continue to be focused on ensuring businesses thrive in both local and international markets, promoting private sector competitiveness, and strengthening the implementation of trade policy.
“Our objective is to enable the generation of wealth, productive employment, and mutual prosperity for every Nigerian,” she stated.
According to Oduwole, who outlined the ministry’s 2025 view, FMITI’s actions will concentrate on three crucial areas: investment mobilisation, trade revenue growth, and economic diversification.
FMITI will expedite industrialisation through efforts such as restoring export processing zones, putting intellectual property protection first, and encouraging trade and investment in technology and artificial intelligence.
The ministry wants to work with the Ministry of Agriculture to make sure exportable food items adhere to international safety standards, according to the FMITI 2025 vision.
The ministry also stated that to promote an export-led economy, it intends to update the nation’s trade and investment policies.
To increase foreign exchange revenues, Oduwole underlined the African Continental Free Trade Area’s role in promoting trade and negotiating preferential trade agreements with important nations.
According to her, the ministry’s initiatives would concentrate on keeping domestic investors, updating the legal system, setting up subnational One-Stop Investment Centres, and building an investment portal to monitor and encourage investment flows comprehensively.
“FMITI will share periodic updates on its performance, as independently verified by the Central Delivery Coordinating Unit,” Oduwole added, assuring stakeholders of the ministry’s dedication to open communication and cooperation.
