By Ayomide Otitoju
The federal government has unveiled plans to boost the manufacturing sector’s contribution to Nigeria’s GDP from the current 8.2% to 15% by 2030 and 25% by 2035, according to the newly launched Nigeria Industrial Policy (NIP), announced by the Federal Ministry of Industry, Trade and Investment (FMITI).
The manufacturing sector currently employs 13 million Nigerians, primarily in food processing, cement production, textiles, pharmaceuticals, and automotive manufacturing. The government said the NIP aims to drive economic growth, reduce reliance on oil exports, promote sustainable development, and support Nigeria’s goal of becoming a $1 trillion economy by 2030.
The policy framework is designed to accelerate industrial transformation by leveraging Nigeria’s natural and human capital to foster inclusive, sustainable, and competitive manufacturing. It focuses on economic diversification, employment generation, innovation, infrastructure development, investment, and export growth.
The NIP prioritises four key sectors: metals and solid minerals, oil and gas, construction, and manufacturing, each encompassing multiple sub-sectors with strategic potential for industrial development, employment creation, and local value addition.
Highlighting the role of agro-allied industries, the government noted that the sector contributes an average of 25% (27% rebased) to real GDP and accounts for 35% of total employment. It provides raw materials for food processing, leather goods, and textiles, reinforcing its importance in industrial linkages and inclusive economic growth. Challenges facing the sector include limited mechanisation, outdated farming techniques, post-harvest losses, and insecurity.
To address constraints such as inadequate power supply, low access to finance, and competition from cheap imports, the government said legal and institutional frameworks are being strengthened to support sector performance.
Senator John Owan Enoh, Minister of State, FMITI, described the NIP as “a comprehensive framework that reaffirms our national resolve to diversify the economy, create inclusive prosperity, and secure Nigeria’s rightful place as a leading industrial hub in Africa and the global economy.”
The report highlighted key drivers for industrial growth, including abundant natural resources, investments in Special Economic Zones (SEZs), Nigeria’s growing market size, and participation in the African Continental Free Trade Area (AfCFTA) and ECOWAS Trade Liberalisation Scheme (ETLS).
