The Minister of Trade and Investment, Jumoke Oduwole, has said Nigeria’s economy is recording a strong recovery, with growth exceeding four per cent, easing inflation and rising confidence among both local and foreign investors.
She attributed the improvement to deliberate long-term reforms, including the modernisation of trade systems and efforts to improve the business environment, which are attracting fresh investments into the country.
Oduwole said recent data shows Nigeria is experiencing its strongest economic performance in over a decade.
“The growth is over 4% and projected to continue growing strongly by the World Bank, not us. Highest in over a decade. Inflation has been halved between 2024 and 2025.”
The minister spoke on Wednesday on the sidelines of the World Economic Forum annual meeting in Davos, Switzerland, where Nigeria is showcasing its reform agenda, investment opportunities and trade priorities.
According to her, investor confidence is improving, with Nigerian businesses reinvesting across key sectors while foreign capital continues to flow into major projects.
“Several economic indicators, but what I would like to showcase is that the investors, Nigerian businesses, the domestic investors, are we reinvesting into the economy across key sectors. And you also have international capital rushing in for our key projects.”
Oduwole described the debut of Nigeria House on the Davos Promenade as a platform to present the country’s reform story and attract global investors and policymakers.
She noted that the reforms are gradual but sustained, adding that trade systems, including port operations, are being upgraded.
“I can say that it’s slow work… I know that it’s a sustained intervention indeed. We have a single window project that’s going live at the end of this quarter.”
The minister said investors are responding positively to Nigeria’s improving business climate.
“When you talk about investors coming in, the decisions that they’re taking are based on the fact that they can do business with the Nigerians.”
She also reaffirmed Nigeria’s strong trade relationship with the United States, despite recent global tariff changes.
“United States remains our strong strategic partner. We launched a commercial investment partnership in June last year. U.S. businesses work very closely with Nigerian businesses. And, you know, businesses just want to do business.”
The presentation at Davos aligns with World Bank projections that Nigeria’s economy could grow by 4.4 per cent in 2026.
