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 | 2024 | APC |
Dr. Jumoke Oduwole | 2024 | 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?
Olajumoke Omoniyi Oduwole is a prominent Nigerian jurist, academic, and public servant who is currently the Nigerian Minister of Industry, Trade, and Investment. She assumed office on November 4, 2024, following her appointment by President Bola Tinubu.
Before she was appointed Minister, she served as the Senior Special Assistant to the President on Industry, Trade, and Investment from 2015 to 2019, and later as the Special Adviser to the President on Ease of Doing Business from 2019 to 2023.
Oduwole was born in Lagos, Nigeria, and completed her early education in the city. She holds a law degree (LL.B) from the University of Lagos, which she completed in 1998. After being called to the Nigerian Bar in 1999, she furthered her education internationally.
She earned an LL.M. degree in commercial law from the University of Cambridge in 2000, followed by a Master’s degree in International Legal Studies from Stanford University in 2007.
She also completed her doctorate in International Trade and Development from Stanford Law School, specializing in World Trade Organization (WTO) negotiation strategy.
Throughout her career, Oduwole has been instrumental in driving notable reforms in Nigeria’s business climate. Her leadership in these areas was recognized with awards such as the Member of the Order of the Federal Republic (MFR) in 2023.
In addition to her work in the Nigerian government, Oduwole is also an academic, having taught at the University of Lagos since 2004.
She is a senior fellow at Harvard University’s Kennedy School of Government and has served on several international committees related to trade and economic development.
She is passionate about mentoring young Nigerians and has founded the No Limits Nigeria Initiative, which aims to inspire and empower youth for nation-building. Oduwole has also been recognized globally for her contributions to international trade and development.
She was honored as one of the Most Influential People of African Descent (MIPAD) in 2024 and has been involved in different high-level global discussions, including at the World Economic Forum and the United Nations.