The Federal Government has reaffirmed its commitment to lowering cargo freight costs across air, land, and sea transport as part of efforts to enhance production and strengthen Nigeria’s economy.
The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, disclosed this initiative during a ministerial briefing organized by the Ministry of Information and Cultural Orientation on Tuesday in Abuja.
She emphasized that reducing freight costs would not only facilitate faster delivery of goods and services but also expand Nigeria’s global trade footprint.
“We are exploring direct cargo freight across Africa for our traders because Nigerians engage in significant trade. This will help streamline operations and enhance regional commerce,” Oduwole stated.
She further highlighted that lowering cargo freight costs is a key initiative under the ministry’s mandate to drive trade efficiency.
The minister noted that production costs in Nigeria are gradually decreasing, and the government remains committed to policies that further strengthen economic growth.
She underscored the ministry’s collaboration with Independent Power Producers (IPPs) across the country, a move aimed at enhancing electricity supply and supporting industrial expansion.
She said efforts to improve tariff schedules are also underway, ensuring that goods move seamlessly across different payment systems.
Oduwole revealed that the ministry is working closely with the Nigeria Customs Service and the Nigeria Immigration Service to streamline trade facilitation processes, eliminate bureaucratic bottlenecks, and enhance value chains.
To attract investments, she said the government is focusing on creating a business-friendly environment with favorable tariffs and regulatory frameworks.
“That is why we continue to engage with the fiscal and monetary arms of the government. Our goal is to champion trade and industry by ensuring that policies support business growth and economic expansion,” she explained.
Oduwole highlighted ongoing collaborations with over 50 federal agencies to improve business processes and enhance transparency.
She reiterated her commitment to simplifying procedures and ensuring that government policies do not inadvertently hinder business activities.
She also noted that Nigerian businesses are already expanding across Africa, leveraging trade opportunities ahead of government-led initiatives.
To further drive investment, trade, and industry, the ministry has partnered with key ministries, including the Ministry of Agriculture and Food Security, the Ministry of Arts, Culture, Tourism and Creative Economy, and the Ministry of Communication, Innovation, and Digital Economy.
“Through these partnerships, we aim to create an environment where investment, industry, and trade can thrive within Nigeria’s economy,” Oduwole added.
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