Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole has revealed that the Nigerian economy has recorded growth above four per cent while inflation has sharply declined.
Speaking to CNN on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Oduwole attributed the gains to ongoing economic reforms, renewed investor confidence, and strengthened global partnerships.
“The growth is over four per cent and projected by the World Bank to continue strongly. Inflation has been halved between 2024 and 2025,” she said.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, speaking at the World Economic Forum in Davos on Nigeria’s economic growth and reforms.
The World Bank has forecast sustained growth above four per cent, supported by structural reforms and declining inflation.
Oduwole highlighted government initiatives to modernize Nigeria’s trade systems, particularly at ports, aimed at improving the ease of doing business.
She disclosed that a national single-window trade platform is set to launch by the end of the quarter, which is expected to reduce delays and lower costs for importers and exporters.
“When investors make decisions, they look at whether they can do business efficiently. That is what these reforms are designed to achieve,” Oduwole said.
The minister also emphasized Nigeria’s strategic trade partnership with the United States, noting that the commercial investment partnership launched in June 2025 has strengthened collaboration between Nigerian and US businesses.
“The United States remains a strong partner. US businesses work very closely with Nigerian businesses,” she said.
Beyond bilateral relations, Nigeria is pursuing long-term reforms to expand infrastructure, increase exports, and strengthen trade access, positioning the country as a key player under the African Continental Free Trade Area (AfCFTA).
Oduwole revealed that Nigeria has opened air cargo corridors with 13 African countries, reducing freight costs for exporters by roughly 50 per cent.
She added that Nigeria’s debut of “Nigeria House” at the Davos WEF provided a platform to showcase the country’s reform agenda, investment opportunities, and trade priorities to global investors and policymakers.
“This is an opportunity to present Nigeria as a country open for business and investment,” Oduwole said, emphasizing the government’s commitment to creating a competitive, investor-friendly economy.
