The initiative was unveiled in Abuja on Thursday, October 22, by the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, who said access to reliable market information would help businesses make better commercial decisions and expand their participation in global trade.

The tools are designed to help exporters identify promising destinations for their products, understand tariffs and international standards, navigate market-entry requirements and connect with potential buyers. The government expects the initiative to support export growth, industrial expansion and job creation.

Oduwole said Nigeria had recorded improvements in capital inflows and non-oil exports but stressed that the gains needed to translate into productive investments, stronger domestic industries and completed commercial transactions.

She disclosed that capital importation increased from approximately $3.9 billion in 2023 to more than $23 billion in 2025. Non-oil exports also reached a record ₦12.36 trillion in 2025, with Nigerian products gaining access to more than 120 countries.

Despite the progress, the minister acknowledged that businesses continued to face significant obstacles, including high production costs, limited access to finance, logistics difficulties and complicated trade procedures.

She said the new initiative was intended to bridge information gaps and give businesses the data needed to make informed decisions before entering foreign markets.

The ministry’s 2026 Trade Intelligence Report examines trade and investment developments during 2025, while a separate half-year report reviews performance between January and June 2026. The publications are intended to support evidence-based policymaking and provide businesses and investors with information on export trends, investment flows and trade opportunities.

The government also plans to formally launch its Trade Intelligence Portal during CANEX Weekend 2026, scheduled to hold in Lagos from November 5 to 8. The platform is expected to make market information more accessible and help businesses turn commercial contacts into actual transactions.

CANEX Weekend, organised under the Creative Africa Nexus initiative, is expected to bring together creative professionals, investors, policymakers and business leaders to explore partnerships and opportunities across Africa’s creative industries.

The event will also serve as a platform for promoting Nigerian products and strengthening connections between local businesses and international buyers.

Meanwhile, the President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Jani Ibrahim, called on private-sector operators to increase investment in value-added exports, competitive manufacturing and priority export industries.

Ibrahim said stronger investment in local production and processing would improve the international competitiveness of Nigerian goods, increase domestic value addition and create employment opportunities.

He stressed that Nigeria needed to strengthen its industrial base to benefit more fully from opportunities in regional and international markets.

The launch forms part of the Federal Government’s broader efforts to improve trade performance, attract investment and expand the productive capacity of the economy. However, the long-term impact of the initiative will depend on how effectively businesses use the information provided and whether persistent challenges involving financing, infrastructure and production costs are addressed.

Reporting by TalkNaijaMedia