The Federal Ministry of Industry, Trade, and Investment (FMITI) is a government agency established in 2011. It is responsible for formulating and implementing policies to promote industrialization, trade, and investment in Nigeria.
The ministry aims to create wealth and employment, reduce poverty, and stimulate the growth of the domestic economy.
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List Of Ministers Of Industry, Trade And Investment In Nigeria
Name | Term Start | Term End | Party |
|---|---|---|---|
Olusegun Aganga | 2011 | 2015 | PDP |
Okechukwu Enelamah | 2015 | 2019 | APC |
Niyi Adebayo | 2019 | 2023 | APC |
Doris Uzoka-Anite | 2023 | Present | APC |
Agencies Under The Ministry Of Industry, Trade, And Investment In Nigeria
Here are all the agencies under the Ministry of Industry, trade, and Investment in Nigeria:
- Bank of Industry
- Corporate affairs commission
- Federal competition, and consumer protection commission
- Financial Reporting Council of Nigeria
- Industrial training fund
- Lagos Internation Trade Fair Complex
- National automotive council
- National automotive design and development council
Who Was The First Minister Of Industry, Trade, And Investment In Nigeria?
The first minister of Industry, trade, and Investment In Nigeria was Olusegun Olutoyin Aganga who served from July 11, 2011, until May 29, 2015.
Aganga was initially appointed as the Minister of Finance in April 2010, and he contributed significantly to Nigeria’s economic policies.
After a year, he transitioned to the newly established Ministry of Industry, Trade, and Investment. During his tenure, Aganga was responsible for many important initiatives boosting Nigeria’s economy.
He worked to make Nigeria an attractive place for investors by launching different policies that adjust the economy. He focused on reducing the country’s dependence on imports and encouraging local production.
One of his notable achievements was the implementation of the auto policy, aiming to stimulate the automobile industry in Nigeria.
This policy encouraged local assembly and manufacturing of vehicles, which not only created jobs but also contributed to technological advancements in the sector. Aganga also pushed for the development of Nigeria’s infrastructure.
He was instrumental in financing the first standard gauge rail project. This railway project was a big step towards improving transportation in the country, facilitating the movement of goods and people, and enhancing trade opportunities.
Under his leadership, the ministry also supported Micro, Small, and Medium Enterprises (MSMEs). He creates a more conducive environment for these businesses to thrive.
Aganga’s efforts resulted in a substantial increase in the number of MSMEs, growing from 17.2 million in 2010 to 32.4 million in 2014.
This growth reduced unemployment and also strengthened the Nigerian economy by boosting local production and consumption.
During his time as Minister, Nigeria was recognized as the top frontier market by the Wall Street Journal. He also chaired the World Trade Organization’s Ministerial Conference in Geneva in 2011, making him the first African to hold this position.
In addition to these achievements, Aganga was dedicated to establishing the Nigerian Sovereign Wealth Fund. However, after his tenure as Minister of Industry, Trade, and Investment, Aganga continued to influence Nigeria’s economic policies and practices.
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Who Is The New Minister Of Industry, Trade, And Investment In Nigeria?
Doris Uzoka-Anite is the new Minister of Industry, Trade, and Investment in Nigeria. She took office on August 21, 2023, under President Bola Tinubu, succeeding Niyi Adebayo.
Doris was born on October 16, 1973, in Oguta, Imo State, Nigeria. She is known as a politician, medical doctor, and financial analyst.
Doris Uzoka-Anite completed her education at the University of Benin, where she studied medicine. After graduating, she became a qualified medical doctor in 1999.
She also pursued further studies in finance and earned the Chartered Financial Analyst (CFA) certification. Doris began her career at Zenith Bank, starting in the Corporate Social Responsibility (CSR) department.
She also worked in the Human Resources and Training department before moving to Treasury in 2011. By 2017, she was appointed as the bank’s treasurer.
In 2021, Doris moved to government service when she was appointed as the Commissioner for Finance and Coordinator of the Economy in Imo State by Governor Hope Uzodinma.
In this role, she managed the state’s finances and played a big part in economic development. After Bola Tinubu won the presidential election in 2023, Doris was among the 28 ministerial nominees he submitted to the Senate for approval.
Following her successful screening, she was formally inaugurated as Minister of Industry, Trade, and Investment. Doris Uzoka-Anite aims to support the growth of Nigeria’s economy by creating a favorable environment for businesses to thrive.
This includes working with local and foreign investors to stimulate economic activities and improve the manufacturing sector.