EMT Reviews Nigeria’s Trade Strategy, Investment Climate, Infrastructure Planning

•FRC, BudgIT to partner on transparency in capital budget implementation

Ndubuisi Francis in Abuja

The federal government’s Economic Management Team (EMT) has begun an assessment of Nigeria’s trade strategy, investment climate, and infrastructure planning.

Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun, who chaired a meeting of EMT in his office in Abuja, Thursday, underscored the government’s commitment to positioning Nigeria as a competitive, investor-friendly economy through coordinated policy reforms and diplomatic engagement.

Relatedly, Fiscal Responsibility Commission (FRC) expressed its readiness to partner with BudgiT, a civic tech organisation that promotes transparency and accountability in public finance, to enhance transparency in Nigeria’s capital budget implementation. This was disclosed during a strategic meeting between FRC and BudgiT officials at the commission’s headquarters in Abuja.

A central feature of the EMT meeting was a detailed presentation by Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, who outlined her ministry’s current priorities.

They included improving investor retention, accelerating export diversification, and addressing regulatory inefficiencies that hinder private sector growth, a statement by Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga, said.

Manga stated that of particular focus was Nigeria’s ongoing engagement with the United States following the recent proposal by the U.S. Trade Representative to impose a 14 per cent tariff on Nigerian exports.

The statement said, “The EMT reviewed the legal and commercial context surrounding this development, as well as Nigeria’s diplomatic outreach to Washington and multilateral discussions held during the U.S.-Africa CEO Forum in Abidjan.

“In parallel, the Honourable Minister of Transportation, Senator Said Alkali, presented his ministry’s updated budget framework and infrastructure priorities. These include logistics upgrades and project pipelines aimed at reducing bottlenecks and enhancing Nigeria’s trade facilitation capacity.”

At the meeting, EMT reaffirmed its collective resolve to implement transparent, market-led reforms that supported private sector expansion, boosted non-oil exports, and delivered sustainable growth across the Nigerian economy.

In his closing remarks, Edun emphasised the importance of cross-ministerial coordination, stating, “Now is the time for unified action. By aligning our trade posture with global best practice and ensuring policy consistency, we can unlock greater opportunities for businesses and deepen investor confidence in Nigeria.”

Meanwhile, FRC said it was ready to partner with BudgiT to boost transparency in Nigeria’s capital budget implementation. This was revealed during a strategic meeting held at the commission’s headquarters, where a delegation from BudgiT formally presented the finalised copy of its Capital Projects Monitoring Manual, a Practical Guide and Framework for Tracking National and Subnational Projects in Nigeria, to FRC.

The meeting also served as a platform to discuss key public finance management policy recommendations and explore areas of alignment and collaboration between both organisations.

Executive Chairman of FRC, Victor Muruako, who was represented by Director of Administration and Human Resources Directorate, Alhaji Muhammed Zailani, expressed the commission’s enthusiasm for the collaboration.

Muruako emphasised FRC’s ongoing efforts to promote fiscal discipline and transparency, particularly through public sensitisation campaigns targeting Nigerian youths and National Youth Service Corps (NYSC) members.

He stated, “As part of our mandate under the Fiscal Responsibility Act, 2007, we are engaging the youth to raise awareness about fiscal governance.”

He advocated more capacity-building initiatives within the commission, including workshops focused on data visualisation and the use of infographics.

“Infographics are now one of the most effective ways to communicate information quickly and clearly through digital platforms,” he stated.

In his remarks, the leader of the BudgiT delegation and Stakeholder Manager, Mr. Andrew Oaikhena, explained that the visit was to officially present the policy manual and hold discussions on challenges Ministries, Departments, and Agencies (MDAs) faced in preparing and executing capital budgets.

Oaikhena highlighted BudgiT’s ongoing collaborations with anti-corruption agencies, such as Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC).

“With the commencement of this collaboration with FRC, we aim to ensure that only appropriate items are included in capital budgets,” he said.

In a statement issued by FRC’s Deputy Director/Head, Strategic Communications, Bede Ogueri Anyanwu, the leader of the BudgiT delegation also referenced a recent comment made by Muruako at a programme organised by Bureau of Public Service Reforms, where he underscored FRC’s central role in the promotion of good governance.