The federal government has unveiled an ambitious industrial roadmap that aims to raise the sector’s contribution to the economy from 10% to 25% of Gross Domestic Product, GDP, by 2035.
Minister of State for Industry, Senator John Owan, announced the plan at the Gastech Exhibition and Conference in Milan, describing it as a landmark step under President Bola Tinubu’s administration.
He said: “This is the first time in decades that Nigeria has adopted a comprehensive industrial framework,” noting that the initiative would mark Nigeria’s shift from a resource-dependent economy to a competitive, innovation-driven industrial hub.
Owan credited the president’s early reforms, including fuel subsidy removal and exchange rate unification, with stabilising the economy and attracting investment. “With reforms in motion and new frameworks validated, the next decade will be defined by industrial expansion, energy optimisation, and global partnerships,” he stated.
He further revealed that the government had validated the Nigeria Industrial Policy, NIP, designed to drive inclusive growth, job creation and national competitiveness. According to him, the policy was developed through broad consultations with the Manufacturers Association of Nigeria, MAN, the Organised Private Sector of Nigeria, OPSN, Nigeria Economic Summit Group, NESG, the academia, labour, development partners and MSMEs.
Owan stressed that execution would be crucial to its success. “Policies, however brilliant, do not transform nations without measurable implementation,” he added.
