In other to boost production in the country, the federal government has reaffirmed its dedication to reducing the cost of transporting goods and services across air, land, and sea.
Dr. Jumoke Oduwole, the Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, who shared this information during a ministerial briefing held by the Ministry of Information and Cultural Orientation on Tuesday in Abuja, explained that the ministry is exploring direct cargo freight across Africa.
She explained that these efforts would ensure faster delivery of goods and services, lower costs, and expand Nigeria’s global trade footprint.
“We are exploring direct cargo freight across Africa for our traders because Nigerians engage in significant trade. This will help bring them together. We aim to lower cargo freight costs. That is one of the key initiatives the ministry is undertaking to fulfill our mandate,” Oduwole stated.
Oduwole also added, “As we can see, the cost of production is gradually decreasing, and we will continue working to strengthen our economy.”
The Minister further disclosed that the ministry was working closely with Independent Power Producers (IPP) nationwide.
“This partnership with the private sector aims to enhance power supply, which will significantly boost the country’s economic growth,” she explained.
In addition, Oduwole confirmed that efforts are underway to improve tariff schedules to ensure smooth movement of products across various payment systems.
“We are working with the Nigeria Customs Service and the Nigeria Immigration Service to streamline procedures, rules, and value chains for trade facilitation,” she said.
Oduwole further stated that the ministry is focused on making Nigeria an attractive investment destination, which requires both a conducive environment and favorable tariffs.
“That is why we continue to engage with the fiscal and monetary arms of government. Our goal is to champion trade and industry, ensuring policies support business growth and economic expansion,” she emphasized.
She also highlighted the ministry’s collaboration with more than 50 federal agencies aimed at improving business processes and promoting transparency.
“My team and I are dedicated to simplifying processes and enhancing transparency, which is a priority for me. We continuously seek new pathways to prevent unintended consequences in our policies and ensure they support businesses and traders,” she said.
The Minister pointed out that Nigerian businesses are already expanding across Africa, moving ahead of government-led initiatives.
“We are working closely with the Ministry of Agriculture and Food Security, the Ministry of Arts, Culture, Tourism and Creative Economy, and the Ministry of Communication, Innovation and Digital Economy. Through these partnerships, we aim to create an environment where investment, industry, and trade can thrive within Nigeria’s economy,” she concluded.
