Federal Government Must Prioritize Domestic Businesses, Says Industry Minister
According to Industry, Trade and Investment Minister Jumoke Oduwole, the key to a thriving economy lies in nurturing domestic businesses.
In a recent interview with Arise TV, Mrs. Oduwole emphasized the importance of creating a favorable business environment that encourages growth, productivity, and scale for domestic companies. She believes that when domestic businesses flourish, they become the best advertisement for Nigeria’s economy, attracting more foreign investors.
“My top priority is to ensure that we retain domestic investment,” she stated. “When we facilitate business and make things easier for domestic companies, they become more comfortable, productive, and able to scale. This, in turn, attracts foreign direct investment and provides a strong foundation for our economy.”
The minister also highlighted the importance of promoting the agricultural sector and its business value chains. She revealed that her ministry is working to reintroduce commodity exchanges, which would enable farmers to receive fair compensation for their labor and contribute to the country’s economic growth.
“We need to optimize our bilateral and regional agreements to ensure that they work in Nigeria’s best interests,” Mrs. Oduwole added. “We will continue to prioritize foreign direct investments while also focusing on domestic businesses, ensuring that our policies benefit Nigerians.”
