The federal government has unveiled a bold industrial roadmap aimed at more than doubling the industrial sector’s contribution to Nigeria’s economy,from the current 10% to 25% of GDP by 2035.
Senator John Owan, Minister of State for Industry, revealed the plan during the Gastech Exhibition and Conference held in Milan. He described the initiative as a landmark achievement under President Bola Tinubu’s administration.
Owan explained that the policy marks Nigeria’s shift from a resource-dependent economy to a competitive, innovation-driven industrial hub.
Addressing conference participants, he said, “For the first time in decades, Nigeria has adopted a comprehensive industrial framework,” adding that the policy is set to redefine the nation’s growth trajectory.
He credited President Tinubu’s early economic reforms, such as the removal of fuel subsidies and exchange rate unification, for stabilizing the economy and fostering an environment conducive to investment.
“With these reforms and new frameworks in place, the coming decade will focus on industrial growth, energy efficiency, and building global partnerships,” Owan stated.
In addition, the Minister highlighted the validation of the Nigeria Industrial Policy (NIP), designed to promote inclusive growth, job creation, and enhance national competitiveness. The policy aims to transform the industrial sector into a major driver of sustainable growth and national pride.
Owan noted that the policy development involved extensive consultations with key stakeholders including the Manufacturers Association of Nigeria (MAN), the Organised Private Sector of Nigeria (OPSN), the Nigeria Economic Summit Group (NESG), academia, labor groups, development partners, and MSMEs.
He emphasized that the success of the policy hinges on effective implementation, underscoring that even the best policies cannot transform a nation without measurable action.
