Ministers, Economist Seek Increased Production, Investment

Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, and the minister of Information and National Orientation, Mohammed Idris, have called for stronger efforts to harness Nigeria’s economic potential through increased production, investment and effective communication.

They made the call at the 2026 News Agency of Nigeria (NAN) NUJ Press Week in Abuja, with the theme, “Harnessing Nigeria’s Economic Potential for Greater Prosperity.”

Oduwole, who was represented by the ministry’s deputy director and head of Press and Public Relations, Augustina Okechi, said expanding domestic production, attracting investment and increasing exports were critical to achieving President Bola Tinubu’s target of a $1 trillion economy.

She said capital importation reached $23.22 billion in 2025, with another $10.37 billion recorded in the first quarter of 2026, while special economic zones had created more than 20,000 direct jobs.

The minister added that non-oil exports increased to $6.1 billion in 2025 from $5.45 billion in 2024, with 281 products exported.

Idris, represented by the deputy director of Public Communication and National Orientation, Oluwatosin Lawal, urged the media to deepen public understanding, strengthen accountability and promote constructive engagement on economic development.

He commended the organisers for providing a platform for dialogue on how Nigeria could achieve greater prosperity.

Delivering the guest lecture, Dr Abdul Ibrahim of the Department of Economics, Nasarawa State University, Keffi, called on the Federal Government to invest in local processing, improve electricity supply and provide affordable credit to small businesses to accelerate economic growth and create jobs.

Ibrahim said Nigeria was losing economic opportunities by exporting raw materials and importing finished products.

“When we export our critical raw materials, what we are simply doing is contributing to the economy of other countries and creating employment opportunities elsewhere,” he said.

He identified inadequate electricity, inconsistent government policies, multiple taxation and insecurity as major obstacles to investment and economic growth.

The economist called for increased investment in infrastructure, renewable energy and vocational training, adding that agriculture, technology and solid minerals could drive growth if properly developed.

He also advocated affordable credit for market women and small and medium-sized enterprises, suggesting that the National Identification Number and Bank Verification Number systems could help facilitate access to loans at affordable interest rates.

Ibrahim urged stronger collaboration among academics, journalists and the government, saying research should inform public debate, the media should promote accountability, and government should translate evidence-based ideas into policies.

“Prosperity is not an accident but a decision, and we must act now,” he said.

Also speaking, the Chairman of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, said Nigeria could accelerate economic growth by harnessing its natural resources and the expertise, investments and international connections of Nigerians in the diaspora.

Dabiri-Erewa, represented by the commission’s Director of Media, Public Relations and Protocols, Abdur-Rahman Balogun, said these opportunities should be converted into wealth, employment and improved living standards.

She urged the media to promote investment and innovation while holding institutions accountable, reaffirming the commission’s commitment to working with NAN to advance journalism and national development.

The Director-General of the National Space Research and Development Agency (NASRDA), Prof. Matthew Olumide Adepoju, called for sustained investment in space science and technology to support economic growth, national security and industrial development.

Adepoju, represented by the agency’s Director of Media and Corporate Communication, Felix Ale, said satellite technology could improve agriculture, telecommunications, healthcare, transportation and environmental management.

He also called for stronger collaboration between scientific institutions and the media to improve public understanding of space technology.

The Editor-in-Chief of NAN, Hajiya Hadiza Aliyu, who represented the Managing Director, Mallam Ali M. Ali, described the press week as an opportunity for professional development and engagement on national issues.

She urged journalists to broaden their knowledge of different sectors to improve their reporting.

In a goodwill message, the Chairman of the Federal Capital Territory Council of the Nigerian Union of Journalists (NUJ), Mrs Grace Ike, represented by Henry Abimike, said the event provided an opportunity for journalists across the media community to strengthen professional ties.

Earlier, the Chairman of the NAN NUJ Headquarters Chapel, Collins Yakubu Hammer, said Nigeria’s natural resources, youthful population and entrepreneurial spirit offered significant opportunities for economic growth.

He urged journalists to uphold professionalism, integrity and objectivity while promoting constructive policy dialogue and holding institutions accountable.

Hammer said the chapel began the press week with a visit to an orphanage at Farmagidi, where members donated food items, toiletries and other consumables.

He added that the programme would include a fitness walk on Friday to promote journalists’ well-being.