Nigeria’s economy has recorded growth above four per cent while inflation has sharply declined, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has revealed.
Speaking in an interview with CNN on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Oduwole attributed the improvement to ongoing economic reforms, renewed investor confidence, and strengthened global partnerships. She said the country’s growth outlook is the strongest in over a decade.
“The growth is over four per cent and projected by the World Bank to continue strongly. Inflation has been halved between 2024 and 2025,” Oduwole said. The World Bank has projected sustained growth above four per cent, driven by declining inflation and structural reforms.
Oduwole highlighted government efforts to modernize Nigeria’s trade systems, particularly at the ports, to enhance the ease of doing business.
She disclosed that a national single-window trade platform is set to launch by the end of the quarter, aimed at reducing delays and cutting costs for importers and exporters.
“When investors make decisions, they look at whether they can do business efficiently. That is what these reforms are designed to achieve,” she said.
The minister also emphasized Nigeria’s strategic trade partnership with the United States, noting ongoing collaboration through a commercial investment partnership launched in June 2025.
“The United States remains a strong partner. US businesses work very closely with Nigerian businesses,” Oduwole said.
Beyond bilateral partnerships, Nigeria is pursuing long-term reforms to improve infrastructure, expand exports, and strengthen trade access, while positioning the country as a key player under the African Continental Free Trade Area (AfCFTA).
Oduwole revealed that Nigeria has opened air cargo corridors with 13 African countries, a move that has cut freight costs for exporters by approximately 50 per cent.
She added that Nigeria’s debut of the “Nigeria House” at the Davos WEF provided a platform to showcase the country’s reform agenda, investment opportunities, and trade priorities to global investors and policymakers.
“This is an opportunity to present Nigeria as a country open for business and investment,” Oduwole said, underscoring the government’s commitment to building a competitive, investor-friendly economy.
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