The Federal Government, under the leadership of President Bola Ahmed Tinubu, is set to launch a comprehensive National Industrial Policy aimed at driving Nigeria’s economic transformation and boosting investor confidence.
Senator John Owan Enoh, Minister of State for Industry, Trade and Investment, made the announcement during a technical session titled “From Activities to Outcomes: Driving Industrial Renaissance.” He noted that the new industrial policy is part of the Industrial Revolution Work Group (IRWG) agenda and is being revalidated to reflect current economic realities.
The policy will address critical challenges facing Nigeria’s industrial sector, including inadequate power supply, high logistics costs, a mismatch between workforce skills and industrial needs, and the shifting dynamics of global supply chains.
Importantly, the policy will feature clear, time-bound action plans, with some reforms set for implementation within 90 days, others within 180 days, and additional phases extending into the long term. The objective is to ensure that the policy moves beyond paperwork and becomes a tool for delivering measurable outcomes.
Stakeholders including policymakers, private sector leaders, development partners, and industrial experts are contributing to the policy’s design to ensure it serves as a catalyst for manufacturing growth, job creation, and economic resilience.
This strategic move is in line with President Tinubu’s broader reform agenda aimed at revitalizing the economy, empowering the private sector, and positioning Nigeria as a globally competitive industrial hub.