The Federal Government on Thursday officially validated the Nigeria Industrial Policy (NIP), describing it as a framework designed to drive inclusive growth, job creation, and national competitiveness.
Senator John Owan Enoh, Minister of State for Industry, said the policy signalled a new covenant to reposition the economy on the foundations of productivity and resilience.
According to him, the NIP is crafted to operationalise President Bola Tinubu’s Renewed Hope Agenda by transforming the industrial sector into the true engine of sustainable growth and national pride.
Enoh explained that the policy followed extensive consultations with key stakeholders, including the Manufacturers Association of Nigeria (MAN), Organised Private Sector of Nigeria (OPSN), Nigeria Economic Summit Group (NESG), academia, labour unions, development partners, and Micro, Small and Medium Enterprises (MSMEs).
“What emerges today is not just the government’s vision; it is Nigeria’s collective industrial charter,” he said.
He emphasised that successful implementation would be crucial, warning that even the most brilliant policies fail without measurable execution.
The minister highlighted that the NIP would prioritise reliable power supply for production, access to credit for SMEs, incentives for local content, and the provision of modern infrastructure and technology to boost competitiveness.
Enoh added that the framework aligns with global and continental strategies, including the African Continental Free Trade Area (AfCFTA), the UNIDO Programme for Country Partnership, and the African Union’s Agenda 2063.
Calling for joint ownership, he urged government, industry, academia, labour and civil society to work collectively to ensure the policy translates into genuine industrial transformation.
He commended the National Institute for Policy and Strategic Studies (NIPSS) for coordinating the process, expressing optimism that the NIP would help Nigeria transition from a consumer-driven economy to one that produces and exports finished goods.
Stakeholders at the event expressed confidence in the new framework, saying it had the potential to revive the industrial sector, strengthen manufacturing, and drive economic diversification—if backed by consistent implementation.
Professor Ayo Omotayo, Director-General of NIPSS, said the framework would tackle long-standing challenges and enable the industrial sector to contribute at least six per cent to Nigeria’s Gross Domestic Product (GDP).
He explained that the policy clearly defined stakeholder roles across the industrial ecosystem and introduced monitoring mechanisms to ensure accountability.
“The new NIP identifies key stakeholders and industrial trust centres, with clearly defined roles and timelines. It also provides monitoring and evaluation tools to ensure coherence and timely corrections where necessary,” Omotayo said.
Representing the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mr Abubakar Audu commended the Ministry of Industry for adopting an inclusive process.
He said the policy reflected private sector input, particularly on the role of MSMEs as the backbone of Nigeria’s industrial base.
According to him, the NIP would promote value addition, expand markets under AfCFTA, and support innovation, green growth, and digital transformation.
The African Development Bank (AfDB), represented by Rosemond Offei-Awuku, reaffirmed its commitment to Nigeria’s industrialisation, noting that the NIP aligns with the Bank’s 2024–2033 strategy.
She cited AfDB’s ongoing support through projects such as the Special Agro-Industrial Processing Zones (SAPZ), the Digital and Creative Enterprises Programme, and the Ekiti Knowledge Zone, all designed to boost manufacturing, agriculture, and the digital economy.
“Strengthening value chains, improving infrastructure, and integrating MSMEs into AfCFTAwill be vital to Nigeria’s industrial success,” Offei-Awuku said.
The event drew government officials, private sector leaders, development partners, and other stakeholders, who agreed that the NIP represents a genuine opportunity for industrial rebirth.
They, however, stressed the need for consistency, infrastructure development, financing, and strong partnerships to translate the blueprint into tangible results.
