Niyi Adebayo, the Minister of Trade, Industry, and Investments, stated on Thursday that his ministry is working on a new trade strategy that will reflect the present global situation.
Adebayo made the announcement during a news conference in Abuja commemorating Nigeria’s 60th anniversary.
He said the policy would be submitted to the Federal Executive Council for ratification by the end of the year.
The minister said, “We have got a trade policy. We are in a process of updating and completing our trade policy.
“We are hopeful that before the end of this year, we will be able to take the policy to the Federal Executive Council for approval.
“The document is undergoing review. We want to update it to be effective for the current situation of the world.
“We are sure that by the time we conclude the document, it will be one that would be applauded by Nigerians.”