Minister Touts Growth Policies Amid Pressure On Small Businesses

The Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, has disclosed that the Federal Government’s single window, tax reforms, and commodities exchange are drivers of Micro, Small and Medium Enterprises (MSMEs) growth and job creation.

Oduwole said this during an event tagged “From Policy to Jobs, creating business-enabling regulatory environments”, in Washington, US.

Oduwole said that job creation, prosperity, and economic growth could be achieved through targeted support for MSMEs.

“The national single window is a major milestone, providing businesses a unified platform for applications and payments across government agencies.

“The platform was launched in March, and is expected to enhance trade facilitation, reduce delays, and improve transparency in business operations nationwide,” the minister said.

She said that the tax reforms implemented in 2025 were aimed at simplifying processes and boosting investor confidence across sectors of the economy.

She said that the reforms increased MSME tax exemption thresholds from N25m to N100m, while streamlining levies and enabling automation.

“The new tax architecture has created a more business-friendly environment for both small and large enterprises,” she said.

Oduwole said that the revitalisation of the Nigerian Commodities Exchange was also a critical reform to boost value addition and export competitiveness.

She said that the initiative supported the aggregation and processing of commodities such as cocoa, sesame, ginger, and cashew.

The minister also said that the commodities exchange would enhance Nigeria’s participation in regional and global trade, including the African Continental Free Trade Area.

She said that the reforms were designed to help MSMEs scale operations, expand production, and create more employment opportunities.

According to her, they will also increase investor interest with domestic and international stakeholders by exploring opportunities under the new policy framework.

She said that improved transparency and efficiency had encouraged businesses to adopt digital platforms such as the national single window.

She said that the government policies were focused on enabling private sector-led job creation.

“The reform is taking time to deliver full impact, especially amid global economic challenges, ” she said.

Oduwole said that Nigeria’s Gross Domestic Product (GDP) is growing above four per cent, the fastest pace in over a decade.

She reiterated commitment to sustaining reforms, and expressed optimism that continued implementation would drive inclusive growth and reduce poverty.