Abuja: The Federal Government, in Abuja, validated the Nigeria Industrial Policy (NIP), describing it as a framework to drive inclusive growth, job creation, and national competitiveness. Sen. John Owan Enoh, Minister of State for Industry, stated at the event that the policy marked a new covenant to reposition the economy on productivity and resilience. He emphasized that the NIP was designed to operationalize President Bola Tinubu’s Renewed Hope Agenda by transforming the industrial sector into the true engine of sustainable growth and national pride.
According to News Agency of Nigeria, the minister explained that the policy had been subjected to wide consultations involving the Manufacturers Association of Nigeria (MAN), Organised Private Sector of Nigeria (OPSN), Nigeria Economic Summit Group (NESG), the academia, labor, development partners, and MSMEs. Enoh stressed that the success of the policy would depend on effective execution, noting that policies, however brilliant, do not transform nations without measurable implementation.
The NIP will focus on power for production, credit for SMEs, incentives for local content, and modern infrastructure and technology that enhance competitiveness. The policy is also aligned with global and continental frameworks including the African Continental Free Trade Area (AfCFTA), the UNIDO Programme for Country Partnership, and Africa’s Agenda 2063. The minister called for shared stewardship among government, industry, academia, labor, and civil society to ensure that the validation translates into industrial transformation.
Enoh commended the National Institute for Policy and Strategic Studies (NIPSS) for stewarding the process and thanked all stakeholders for shaping the policy. He expressed optimism that the NIP would help Nigeria shift from being a consumer economy to a producing nation and from exporting raw materials to exporting finished products.
Stakeholders expressed confidence that the new NIP would revive the sector, strengthen manufacturing, and enhance economic diversification but stressed the need for effective implementation. Prof. Ayo Omotayo, Director-General of NIPSS, stated that the framework would address long-standing challenges and enable the sector to contribute at least six percent to Gross Domestic Product (GDP). Omotayo explained that the policy identified stakeholders across the industrial ecosystem, clearly defined their roles, and introduced monitoring mechanisms to ensure accountability and coherence in execution.
Representing the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Mr. Abubakar Audu commended the Ministry of Industry for driving an inclusive process. Audu stated that the policy reflected inputs from the private sector, particularly on the role of MSMEs, which it described as the backbone of the industrial base. He mentioned that the policy would strengthen value addition, expand markets through AfCFTA, and support innovation, green growth, and digital transformation.
The African Development Bank (AfDB), represented by Rosemond Offei-Awuku, emphasized that industrialization was central to the bank’s 2024 to 2033 strategy and to Nigeria’s economic transformation. She highlighted 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, designed to boost manufacturing, agriculture, and the digital economy.
The event was attended by various stakeholders, government officials, and partners among others who expressed their commitment to the policy. The stakeholders agreed that the policy represented a new opportunity for industrial rebirth but underscored the importance of policy consistency, infrastructure, financing, and partnerships to translate the blueprint into results.