The National Assembly has restated its commitment to enacting business-friendly laws and tax incentives to draw foreign investment into Nigeria’s economy.

Chairman of the House of Representatives Committee on Foreign Affairs, Oluwole Oke, made the pledge on Wednesday while addressing parliamentarians at the Global South Legislators’ Summit in Urumqi, China.

Oke, who represents Obokun/Oriade Federal Constituency of Osun State, said the legislature had been backing President Bola Tinubu’s economic reforms. “Our parliament has been supportive of reforms that ease business operations,” he said.

He noted that Nigeria’s population offers “a vast market and opportunities across multiple sectors” and urged for deeper collaboration among Global South nations based on “mutual respect, equal partnership, and shared benefits.”

Oke reminded delegates that Nigeria had signed agreements promoting regional integration, including visa-free access for Chinese diplomats. He called on the summit to “look at the global south, not only as a political alliance but as a platform to deepen economic ties, transfer technology, promote climate-friendly policies, and ensure prosperity for our people.”

He also used the forum to solicit support for Nigeria’s bid for a non-permanent United Nations Security Council seat and invited Chinese investors to explore opportunities in aviation, energy, and agriculture.

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This development follows a recent meeting between the Minister of State for Industry, Trade and Investment, John Enoh, and a delegation from China Civil Engineering Construction Corporation (CCECC) Nigeria Limited. The discussion, held at the Bank of Industry where the minister currently operates, focused on the proposed renovation of the ministry’s decades-old premises and broader plans for industrial collaboration between Nigeria and China.

According to Enoh, the visit from CCECC, led by Director John Zhao, was aimed at exploring how the firm could support the rehabilitation project and contribute to national industrial development goals. He also revealed that discussions extended to potential partnerships on establishing Industrial Development Centres in Nigeria’s six geopolitical zones.

“I was impressed by their experience and reaffirmed the ministry’s openness to partnerships that align with our national goals,” the minister shared via his official X (formerly Twitter) account. “We hope to work together on vocational hubs that drive inclusive industrial growth.”

This decision marks a clear departure from earlier commitments made under former Minister Doris Uzoka-Aniete, who last year unveiled plans to relocate the ministry’s operations to the ITF building in Maitama. At the time, Uzoka-Aniete announced that the move would follow completion of interior works, contingent on budgetary approval.

Indeed, the 2024 national budget allocated over ₦2.1 billion for the relocation initiative. Budget lines included ₦500 million for new furniture, ₦582.7 million for building maintenance, and another ₦500 million for the creation of new office spaces within the Maitama complex.

With this abrupt policy shift, attention is now turning to the fate of the Maitama facility and the considerable funds already committed to its development. Critics warn that redirecting resources to a new renovation project could result in waste and underutilisation of the recently completed ITF headquarters.

The lack of disclosed costs or renovation timelines has further fueled concerns about possible mismanagement. As of press time, attempts to reach the Ministry’s media team for clarification had not yielded a response.

The Old Federal Secretariat complex, where the ministry is based, also houses several other agencies, including the Ministry of Interior and the Nigerian Orientation Agency. The planned upgrade is expected to improve working conditions and potentially streamline inter-agency coordination within the facility.

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This clash follows a recent move by Washington to impose new tariffs. On March 26, the U.S. applied a 14% tariff on certain Nigerian exports. The change has sparked concern in Abuja and among Nigerian exporters.

American Officials Speak Out
In a statement shared on X (formerly Twitter), the U.S. Trade Representative (USTR) accused Nigeria of “unfair trade practices.” The USTR noted that bans on items such as poultry, pork, fruit juices, and spirits hurt American businesses. They said these policies reduce export opportunities and lead to financial losses for U.S. producers.

Nigeria’s Ban Dates Back to 2016
Nigeria introduced its import restrictions in 2016. The goal was to promote local production and reduce reliance on foreign goods. The ban includes a broad list of items: frozen meats, refined oils, spaghetti, cement, beer, and even recharge cards.

Recently, Nigeria announced it may add solar panels to the list. The move is intended to support local clean energy industries.

Nigerian Leaders React to Tariffs
Nigeria’s Minister of Finance, Wale Edun, said the government is reviewing its economic approach. He noted that crude oil exports remain unaffected by the U.S. tariffs. However, non-oil sectors now face a 14% tariff, which he called “significant.” He also compared it to Vietnam, which faces a higher 46% tariff.

Edun suggested that Nigeria could become an attractive location for global manufacturing. With a stable economy and favorable exchange rate, he believes foreign companies may look to Nigeria as a production hub.

Concerns Over Non-Oil Exports
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, expressed concern over the long-term impact. She said that while oil makes up over 90% of exports to the U.S., other sectors  like fertilizers, lead, and nuts — will suffer from the tariffs.

She warned that small and medium enterprises (SMEs), especially those relying on AGOA (African Growth and Opportunity Act) benefits, are at risk. Higher tariffs could increase costs, disrupt supply chains, and reduce access to the U.S. market.

A Call to Diversify Nigeria’s Exports
Dr. Oduwole stressed the need for export diversification. She said Nigeria must improve product quality and meet international standards. This, she added, is the only way Nigerian goods can compete globally.

Balancing Local Growth and Global Relations
As trade dynamics shift worldwide, Nigeria faces a tough choice. It must support local industries without losing key partners like the United States. The government now has to walk a fine line between protectionism and diplomacy.

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This decision comes amid growing concerns over Nigeria’s rising building collapse crisis, which has resulted in loss of lives and property.

Rising Building Collapses and Weak Enforcement Measures

Billy Osawaru, an Edo lawmaker who sponsored the motion, urged the House to demand stronger enforcement from SON. He stressed the urgent need to eliminate fake and substandard building materials from the Nigerian market. Without strict quality control measures, he warned, unsafe construction practices will continue to endanger public safety. According to him, weak regulatory oversight and the influx of inferior materials are major contributors to Nigeria’s high building collapse rate.

Citing data from the Building Collapse Prevention Guild, Osawaru revealed that Nigeria recorded 47 building collapses across 14 states in 2024. Lagos accounted for 56% of these cases, recording 13 incidents, while Abuja followed with six collapses, representing 4.37% of the total. He further disclosed that within the first months of 2025, at least three additional building collapses have already led to multiple deaths and injuries.

Osawaru expressed deep concern over reports that SON reversed its decision to shut down the 18 companies implicated in producing substandard materials. Allegedly, the Ministry of Industry, Trade, and Investment influenced this reversal, sparking widespread criticism over the government’s commitment to enforcing quality standards. Osawaru warned that if left unchecked, these companies will continue to exploit weak enforcement mechanisms, flooding the market with low-quality materials, while exporting higher-quality products to countries with stricter regulations.

Lawmakers Push for Strict Regulations

Studies indicate that 53% of building collapses in Nigeria result from poor-quality materials and unskilled labor. Most affected buildings are private residential structures executed by local contractors who cut corners to maximize profits. The consequences have been devastating, Osawaru lamented, leading to countless preventable deaths.

The House of Representatives has now resolved to conduct a full-scale investigation into SON’s regulatory failures. Lawmakers will examine the agency’s enforcement practices, scrutinize its decision-making processes, and hold responsible parties accountable for compromising safety standards. The investigation aims to introduce strong recommendations to tackle Nigeria’s substandard building material crisis.

This probe could become a defining moment for Nigeria’s construction industry, testing the government’s resolve to protect its citizens from preventable disasters. If negligence or regulatory failure is uncovered, SON and other relevant agencies may face intense scrutiny and pressure to implement stricter oversight across the sector.

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Industrial Tour Highlights Government Dedication
During the Southwest leg of a nationwide Industrial Tour, Enoh visited select industries in Lagos and Ogun States, emphasizing the government’s dedication to fostering industrial growth.

Support for Local Industries to Unlock Economic Potential
Speaking at the Coleman Factory in Sagamu, Ogun State, Enoh underscored the necessity of increased government involvement in supporting local industries. He detailed ongoing efforts to finalize policies aimed at protecting and promoting domestic manufacturers.

Drawing a parallel to the ‘America First’ policy of former U.S. President Donald Trump, Enoh stressed that Nigeria must prioritize its industries to fully harness its economic potential.

“We must do everything to support companies like Coleman. Their reputation for quality and efficiency is well established, and the government will continue to encourage collaboration with the industry to drive economic development,” he stated.

Stakeholders Express Optimism Over Government Initiatives
George Onafowokan, Managing Director/CEO of Coleman Wires and Cables, responded positively to the minister’s comments, expressing optimism about the future of the industry under the current administration.

“For us, it is about focusing on supportive collaboration rather than obstacles. With the minister advocating for the industry, we believe positive changes, such as fiscal policies benefiting manufacturers and sector protections, are on the horizon. This government has given us renewed hope,” Onafowokan said.

Commitment to Strengthening Local Manufacturing
Enoh reassured industry stakeholders of the government’s commitment to fostering an enabling environment for industrial growth, job creation, and economic sustainability.

“If the industry does not grow, Nigeria will not thrive. The President has demonstrated strong leadership in this area, and we will continue to support and partner with industry players like Coleman,” he added.

He further highlighted the government’s determination to strengthen local manufacturing, reduce dependence on imports, and promote ‘Made in Nigeria’ goods as competitive in the global market.

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