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Tinubu’s economic overhaul paving way for investment and stronger trade links — Oduwole
By Gloria Ikibah
The Minister of Trade and Investment, Dr Jumoke Oduwole has said that the ongoing economic reforms in Nigeria are beginning to create the conditions needed for greater capital inflows and stronger trade performance.
Speaking at a colloquium celebrating the contribution of women to industry, trade and investment on Friday at the National Assembly complex, the minister said the policy direction under President Bola Tinubu’s Renewed Hope Agenda was gradually building a more stable economic framework. The reforms, she noted, are designed to attract investment while encouraging trade expansion both within Africa and with global partners.
Naijablitznews.com reports that the event focused on how Nigeria can position itself as a leading force in intra-African commerce.
Oduwole explained that the government is strengthening continental integration while also pursuing targeted bilateral and international partnerships to open up new opportunities for Nigerian businesses.
She said: “As part of these efforts, the ministry has been working with several international platforms and agreements, including the U.S.–Nigeria Commercial and Investment Partnership, the UK–Nigeria Enhanced Trade and Investment Partnership, and the Comprehensive Economic Partnership Agreement with the United Arab Emirates.
“These collaborations are aimed at widening market access, drawing foreign investment and linking Nigerian firms — particularly women-led enterprises — to global supply chains, financing and new markets”.
She also highlighted a number of policy steps taken by the ministry over the past year to improve the country’s investment climate.
“In 2025, the government intensified its investment facilitation initiatives and strengthened support for investors already operating in the country. Nigeria’s tariff schedule under the African Continental Free Trade Area was formally gazetted, while a new air cargo export corridor was introduced to support exporters.
“Nigeria has also sought to reinforce its influence in emerging sectors, particularly the digital and creative industries, through the ratification of the AfCFTA Digital Trade Protocol — a move intended to deepen participation in the continent’s evolving digital economy”, she added.
Oduwole said the priority of the government is clear and that is “connecting global and regional demand with Nigeria’s supply capacity and the capital required to scale it. This includes expanding long-term industrial financing, strengthening value chain processing and export readiness, and ensuring that both men and women-led firms are fully positioned to scale within Africa’s emerging continental market”.
She stressed that as a leading voice in Africa’s trade policy landscape, Nigeria is playing an active role in coordinating positions with African partners and engaging key global stakeholders to help shape the global trading agenda ahead of the Fourteenth WTO Ministerial Conference (MC14) in Yaoundé, Cameroon, in two weeks.
The Minister further stated that the African Continental Free Trade Area has created a remarkable opportunity for all Nigerian and African businesses to grow across borders.
“The real question now is how we ensure that the capital required to support that expansion is mobilised and structured at the scale the moment demands”, she questioned.
According to her, the Africa Continental Free Trade Agreement connects about 1.3 billion people with approximately $3.4 trillion in GDP into a single market, creating one of the largest integrated economic zones in the world, adding that the scale of its economic impact will ultimately depend on the businesses capable of operating within those markets.
“There are approximately only 345 companies generating more than $1 billion in annual revenues across Africa today. For a continent with more than 200 million businesses, this number reflects just how much room there is to grow this base of globally competitive
“Firms, stressing that achieving that scale requires the full productive capacity of our economies, including women, who already play a central role in Africa’s economic activity”, she stated.
Oduwole explained that under the Renewed Hope Agenda of President Tinubu, Nigeria is building a $1 trillion economy by 2030, anchored on stronger industrial capacity, expanded exports and deeper integration into regional and global markets.
“No country can realistically reach that level of economic scale while leaving half of its entrepreneurial talent and productive capacity under-capitalised. Ensuring that women-led firms can access the capital required to grow therefore strengthens the very foundation of Nigeria’s economic expansion.
“Across Africa, women are active participants across trade, services, agriculture, manufacturing and logistics. The constraint is therefore not participation. It is capital, how it is structured and how it is allocated. Last year, female founded companies received less than 10 percent of venture and growth capital deployed across Africa, while the estimated financing gap for women-owned businesses exceeds $49 billion.
“This gap matters because in the era of AfCFTA, access to capital will determine which firms expand across borders, which value chains deepen and which economies capture the benefits of continental trade”, Dr. Oduwole said.
She emphasised that Africa’s Leadership Policy is precisely where trade policy begins to play an important role, adding that through the African Continental Free Trade Area, the continent has adopted forward-looking frameworks including the Protocol on Digital Trade and the Protocol on Women and Youth in Trade.
The minister further revealed that the Protocol on Women and Youth in Trade is designed “to strengthen the participation of women and young entrepreneurs in African trade by expanding access to markets, improving access to finance and supporting the growth of women-owned and women-led businesses. (How we came to the MOU we will sign today).
“Its purpose is to ensure that the opportunities created by AfCFTA translate into tangible and equitable economic growth across the continent”, adding that the colloquium reflects Nigeria’s commitment to implementing this protocol and to ensuring that the continental market being built under AfCFTA is one in which businesses led by both women and men are able to grow, compete and scale”, she stated.
Minister of State, Trade and Investment, John Enoh said the AfCFTA is no longer a conceptual aspiration, but is operational architecture with a $3.4 trillion market of 1.4 billion people, representing the largest free trade area in the world by number of participating countries.
He however said that production, rather than markets do not create prosperity and that Trade agreements do not industrialise nations, competitive enterprises do, adding that Nigeria’s ambition under AfCFTA is not to be a passive consumer market, but to become a production hub; manufacturing, processing, innovating and exporting at scale.
According to him, manufacturing is contributing approximately 13–14% to Nigeria’s GDP while in industrialised economies, that figure is closer to 20–25%, adding that “the gap is not merely statistical. It represents unrealised factories, unrealised exports, and unrealised jobs. Closing that gap is the mandate of our new Nigeria Industrial Policy.
He said that women stand as the real engine of economic growth.
“As we speak about industrialisation and intra-African trade, we must confront a powerful truth that women already dominate large segments of Nigeria’s real economy. Across retail, textiles and garments, agribusiness processing, nutrition systems, and light manufacturing, women-led MSMEs are deeply embedded in value chains. There are over 8 million women-led MSMEs in Nigeria generating over $15 billion in annual revenue.
“They account for over 40% of MSME employment, yet receive less than 20% of formal MSME financing. Over 90% operate informally. Fewer than 15% access structured digital training. Less than 5% have formal governance systems. This is not a capability problem. It is a structural design problem.
“We have mentorship without capital. Finance without readiness. Markets without compliance support. If Nigeria is to lead AfCFTA, we must unlock the productive potential of women-led enterprises at scale.
“This is not a social justice conversation. It is an industrial competitiveness conversation”, the Minister said.
He explained that under the Nigeria Industrial Policy, we are committed to moving enterprises from informality readiness scale, from subsistence productivity export orientation and to do this effectively, our strategy must integrate four pillars, as demonstrated in leading enterprise-readiness platforms:
Minister for Women Affairs, Iman Suleiman Ibrahim said the AfCFTA is “no longer a promise, but an architecture under construction. It is a market of 1.4 billion people, a combined GDP of over three trillion US dollars, and an intra-African trade potential that economist’s project could reach 35 percent of total African trade by 2040, up from barely 16 percent today”.
She described it as one of the most ambitious trade liberalization efforts in modern history, adding that for Nigeria, the largest economy in Africa and the most populous Black nation in the world, it presents both a responsibility and an opportunity to lead, saying “however, Nigeria cannot truly lead intra-African trade if half of its economic engine remains under-utilized.
“Women are central to Nigeria’s economic life. They produce a large share of our food, dominate many segments of informal commerce, and operate thousands of micro, small, and medium-scale enterprises across the country. Yet the structures of formal trade have not always been designed with them in mind.
“Women account for approximately 70 percent of Nigeria’s agricultural labour force, yet they own less than 14 percent of agricultural land, access less than 10 percent of formal agricultural credit, and constitute a fraction of those registered in formal agricultural export schemes. They do the work. They bear the risk. But the system was not designed to reward them.
“According to the International Trade Centre, women-led SMEs are 70 percent more likely to reinvest revenue back into their communities, their children’s education, and local supply chains than their male counterparts. The World Bank estimates that closing the gender gap in economic participation could add 26 percent to global GDP with developing economies like Nigeria capturing a disproportionately large share of that gain”.
Head of the Civil Service of the Federation, Didi Esther Walson-Jack commended the Minister of Trade and Investment for providing this strategic platform that recognises the transformative contributions of women to economic development and regional integration, adding that across Africa, women continue to drive entrepreneurship, innovation, and enterprise development.
According to the Head of Service, the participation of women in national development has become indispensable to the realisation of the African Continental Free Trade Area and to Nigeria’s ambition of strengthening its leadership within Africa’s economic landscape.
She said that Nigeria’s ability to lead intra-African trade will depend not only on policy frameworks and trade facilitation mechanisms, but also on the empowerment of capable and visionary actors within the economy.
“Women constitute a significant proportion of Nigeria’s productive and entrepreneurial base, and expanding their opportunities within value chains, manufacturing, commerce, and cross-border trade will significantly enhance national competitiveness.
“Within the Federal Civil Service, we remain committed to supporting government policies and reforms that promote inclusive economic growth, strengthen institutional coordination, and create an enabling environment for businesses and investors. Through effective policy implementation, regulatory clarity, and strengthened institutional capacity, the Public Service continues to play a central role in advancing Nigeria’s economic transformation agenda”, she added..
She stressed that the colloquium therefore represents an important opportunity to deepen dialogue, share practical insights, and strengthen partnerships that will advance women’s economic participation while positioning Nigeria to take full advantage of the opportunities within Africa’s integrated market.
Renowned African industrialist and philanthropist, Aliko Dangote, has been named among TIME Magazine’s 100 Most Influential People in the World for 2026, reaffirming his standing as one of the most successful and iconic business leaders of his generation.
Dangote joins global influential figures from multiple sectors, including political leaders such as U.S. President Donald Trump, Chinese President Xi Jinping, Israeli Prime Minister Benjamin Netanyahu, Canadian Prime Minister Mark Carney, revered Pope Leo XIV, current head of Catholic Church as well as business and technology leaders including Google CEO Sundar Pichai and YouTube CEO Neal Mohan.
The annual TIME100 list, published on April 15, 2026, recognises global figures whose leadership, ideas, and actions are shaping the future across business, politics, culture, and society. Dangote’s inclusion places him alongside prominent international figures drawn from diverse spheres of global influence.
This marks Dangote’s second appearance on the prestigious TIME100 list, following his first recognition in 2014, when he was honoured for his exceptional impact on business and philanthropy. His return to the list more than a decade later underscores the consistency and scale of his influence on the global stage.
Dangote, who is being recognized for his African industrial drive is the only Nigerian on the list and featured in the titan and innovators category. Other prominent honorees named alongside Dangote in the titan category are Reid Wiseman, Commander of the Artemis II mission to the moon; Sundar Pichai, CEO of Google and Alphabet and Neal Mohan, CEO of YouTube.
Also featuring prominently under the titan category are Michael and Susan Dell, the high-profile American tech billionaires and philanthropists best known as the founders of the Michael & Susan Dell Foundation, a global non-profit that focuses on improving the lives of children living in urban poverty. Included here also is the American designer and billionaire, Ralph Lauren, best known for founding the global lifestyle empire Ralph Lauren Corporation.
Recognized in the Pioneer category are individuals with breakthroughs in Science and Social Advocacy such Kiran Musunuru and Rebecca Ahrens-Nicklas, both of whom were cited for medical breakthroughs in genetic therapy as well as Aaron Williams, recognized for advancements in heart transplant readiness.
Influential figures recognized in global entertainment and culture include Ranbir Kapoor, prominent Indian actor; Dakota Johnson, recognized as an actress and cultural icon and Kate Hudson, included for her cultural influence.
As Founder and President of Dangote Group—Africa’s largest indigenous industrial conglomerate—Dangote has played a central role in advancing industrialisation across the continent. Under his leadership, the Group has made landmark investments spanning cement manufacturing, sugar and food processing, agriculture, infrastructure, and lately energy, significantly reducing Africa’s reliance on imports while creating millions of direct and indirect jobs.
In its citation, TIME Magazine highlighted Dangote’s vision of building African industries with local resources for global competitiveness, noting his recent investments in large scale energy and manufacturing infrastructure as emblematic of his long term commitment to Africa’s economic transformation.
Beyond business, Dangote is widely acclaimed for his philanthropic leadership through the Aliko Dangote Foundation (ADF), one of Africa’s largest private philanthropic organisations. The Foundation supports critical initiatives across healthcare, nutrition, education, disaster relief, and economic empowerment, contributing to improved outcomes for vulnerable communities across the continent.
The 2026 TIME100 recognition further reflects a broader global acknowledgement of African leadership, innovation, and enterprise, with Dangote standing as a symbol of the continent’s growing influence in shaping global economic and development narratives.
This latest honour consolidates Aliko Dangote’s legacy as a visionary industrialist and philanthropist, whose work continues to drive sustainable development, inclusive growth, and long term value creation—both within Africa and beyond.
Under his leadership, Dangote Group recently launched Vision 2030, with which Dangote Industries aims to transform from a regional $30 billion conglomerate into a $100 billion global powerhouse by 2030.
This strategy focuses on industrial self-sufficiency for Africa, moving the group from “regional dominance to global relevance”.
Dangote said the roadmap to vision 2030 is divided into phases to “supercharge” the group’s expansion; with phase one spanning 2025-2028 focused on scaling existing businesses—cement, fertilizer, and energy—and optimizing assets for international competitiveness.
The Phase two running from 2028-2030 is for the deployment of new businesses and ventures into global markets to drive the final leap to the $100 billion revenue target. The Dangote Group plans to venture into steel manufacturing, power, and deep-sea ports to tackle industrial bottlenecks across Africa.
This recognition by Time Magazine underscores the growing global acknowledgment of African leadership and innovation, and highlights Aliko Dangote’s enduring influence as a visionary leader committed to sustainable development and inclusive growth.
The 2026 list underscores the expanding global visibility of African leadership and Dangote’s continued influence as a leading industrialist and philanthropist.
Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), and his son, Abdulaziz Malami, on Wednesday pleaded not guilty to a five-count amended charge bordering on alleged illegal possession of firearms, filed against them by the Federal Government.
The Department of State Services had, on February 3, 2026, arraigned the defendants on a five-count charge bordering on alleged terrorism financing, aiding terrorism, and illegal possession of firearms.
Malami was also accused of failing to prosecute suspected terrorism financiers while in office, in addition to alleged unlawful possession of a Sturm Magnum 17-0101 firearm and ammunition.
They had earlier pleaded not guilty to the charges and were granted bail by the court.
However, at the resumed hearing on Tuesday, prosecution counsel, Akinlolu Kehinde (SAN), informed the court of an amended charge dated April 14, 2026, which he said had been served on the defendants.
Kehinde urged the court to substitute the earlier charge dated February 2, 2026, with the amended one to enable the defendants to take a fresh plea.
Responding, defence counsel, Shaibu Arua (SAN), confirmed receipt of the amended charge.
Consequently, the trial judge, Justice Joyce Abdulmalik, struck out the earlier charge and discharged the defendants in respect of it.
The court thereafter ordered that the amended five-count charge be read to the defendants.
In the amended charge, the defendants were accused of preparing to engage in acts of terrorism by allegedly possessing firearms without a licence, including a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5’20 live cartridges, and 27 expended cartridges.
The offences are said to be contrary to provisions of the Terrorism (Prevention and Prohibition) Act, 2022, and the Firearms Act, Cap F28, Laws of the Federation of Nigeria, 2004.
After the charge was read, the defendants pleaded not guilty to all counts.
Following the plea, Kehinde urged the court to fix a date for trial.
However, the defence counsel prayed the court to allow the defendants to continue on the bail earlier granted to them.
The prosecution did not oppose the application.
In her ruling, Justice Abdulmalik granted the request and fixed May 26 and June 16, 2026, for trial.
The amended charges read: “That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State, within the jurisdiction of this Honourable Court, did engage in preparation to commit acts of terrorism by having in your possession and without license, a Sturm Magnum 17 – 0101 firearm, Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and Twenty-Seven (27) expended Redstar and thereby committed an offence contrary to and punishable under Section 29 of the Terrorism (Prevention and Prohibition) Act, 2022.
“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State, within the jurisdiction of this Honourable Court did conspire amongst yourselves in preparation to commit acts of terrorism by having in your possession and without a license a Sturm Magnum 17 – 0101 firearm, Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and Twenty-Seven (27) expended Redstar, contrary to Section 26 (1) of the Terrorism (Prevention and Prohibition Act) 2022 and punishable under Section 26 (3) (a) and (b) of the Terrorism (Prevention and Prohibition Act) 2022.
“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession a Sturm Magnum 17 – 0101 firearm and thereby committed an offence contrary to Section 3 of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.
“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and thereby committed an offence contrary to Section 8 (1) (b) (ii) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.
“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession Twenty-Seven (27) expended Redstar AAA 5’20 live rounds of cartridges and thereby committed an offence contrary to Section 8 (1) (b) (ii) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.”
The Federal High Court in Lagos has restrained the Federal Competition and Consumer Protection Commission (FCCPC) from enforcing parts of its newly issued Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, pending the determination of a substantive application before the court.
Justice Ambrose Lewis-Allagoa granted the interim injunction following an ex-parte motion filed by the Wireless Application Service Providers Association of Nigeria (WASPA Nigeria), which is challenging the legality and implementation of the regulations.
The association had approached the court on April 14, 2026, seeking urgent judicial intervention to stop the enforcement of key provisions of the regulatory framework, popularly referred to as the “Deon Consumer Lending Regulations.”
In a ruling delivered after hearing submissions from counsel to the applicant, Kemi Pinheiro (SAN), alongside Bolu Agbaje Akadri and Muyiwa Odubela, the court held that the applicant had made a case warranting interim protection pending further hearing.
WASPA Nigeria, in its application, argued that the FCCPC’s regulations would adversely affect its members, who operate within Nigeria’s digital and online consumer lending ecosystem.
The group sought to prevent the commission from implementing, enforcing, or taking any steps under the disputed regulations until the court determines the framework’s legality.
Specifically, the association urged the court to restrain the FCCPC from enforcing various provisions of the regulations, including paragraphs 3, 7, 10, 12, 13, 14, 15, 16, 24, 27, 29, and 32. It also asked the court to stop the commission from imposing sanctions, penalties, or fines on its members, as well as from issuing directives that could affect their operations.
After considering the motion ex-parte and supporting affidavit sworn by Ayo Stuffman, a Nigerian citizen residing in Lagos, Justice Lewis-Allagoa held that an interim order of injunction was justified in the circumstances.
The court accordingly restrained the FCCPC from enforcing or giving effect to the contested provisions of the regulations, pending the hearing and determination of the motion on notice for interlocutory injunction.
The judge also barred the commission from taking any steps that would interfere with or prevent WASPA members from continuing to provide services or products regulated under the framework.
The FCCPC was restrained from imposing any sanctions or penalties on the association’s members arising from alleged non-compliance with the regulations.
The court prohibited the commission from issuing any further orders or directives relating to the implementation or enforcement of the disputed regulatory framework.
The matter has been adjourned to April 27, 2026, for the hearing of the substantive application.
The order marks a significant temporary setback for the FCCPC, which recently introduced the regulations as part of efforts to strengthen oversight of Nigeria’s rapidly expanding digital lending and fintech ecosystem.
The framework was designed to address consumer protection concerns, data privacy issues, and unregulated lending practices in the sector.
Stakeholders in the digital services and lending space have continued to raise concerns about the scope and potential impact of the regulations on innovation, compliance costs, and operational freedom.
The court is expected to consider arguments on whether the restraining order should be extended or lifted pending full determination of the suit.
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