Sen. John Enoh, Minister of State for Industry, Trade, and Investment, says the Federal Government is committed to balancing trade by promoting domestic manufacturing while managing imports.
Enoh stated this during the Renewed Hope Global Virtual Town Hall Conference 2025, when discussing the country’s trade policy. The minister stressed the need of assessing the country’s trade balance, whether surplus or deficit, while developing economic policy.
He expressed worry that Nigeria’s economy remained import-dependent and emphasised the importance of expanding and deepening the country’s productive capacity in order to boost exports and minimise reliance on foreign commodities.
The real issue is not just the volume of imports but the fact that we are not producing enough. “We must expand local manufacturing and strengthen our industries to stay competitive in the global market,” he said. Enoh said that the government has been deliberate in encouraging local productivity through various incentives, including import duty exemptions for manufacturers and industrialists. “Since assuming office, I have approved countless import duty exemptions.”
“There are programmes such as backward integration policies aims at boosting local capacity in key industries, including manufacturing and agriculture ” he said. Eno underlined the administration’s commitment to ensure that Nigeria remained competitive in global commerce. He stated that at the end of each fiscal period, the government evaluates the country’s trade balance to establish policy directions.
