Nigeria to Launch Industrial Policy to Boost Manufacturing, Reduce Raw Material Exports

The Federal Government of Nigeria is finalizing a new comprehensive Nigerian Industrial Policy aimed at reducing the country’s heavy reliance on imported goods by strengthening its domestic manufacturing sector. The initiative, led by the Ministry of Trade in partnership with the Manufacturers Association of Nigeria (MAN), seeks to increase manufacturing’s contribution to Nigeria’s GDP, which currently stands below 10%.

At the 2025 Nigerian Manufacturing & Equipment/Nigerian Raw Materials Expo in Lagos, Minister of State for Industry, John Owan Enoh, emphasized the government’s commitment to prioritizing local production over the export of raw materials. He highlighted the policy as a long-awaited effort developed alongside various stakeholders to ensure it aligns with Nigeria’s industrial needs and global trends.

The policy aligns with President Bola Tinubu’s Renewed Hope economic agenda, which focuses on accelerating diversification across critical sectors. It aims to make Nigeria’s manufacturing competitive globally by targeting high-potential sub-sectors including textiles, automotive manufacturing, agro-processing, and pharmaceuticals—areas that promise job creation, value addition, and export diversification.

Segun Ajayi-Kadir, Director-General of MAN, endorsed the policy direction, calling it essential for Nigeria’s industrial transformation. He stressed the importance of regulatory reforms that facilitate economic scale and ease of doing business, warning against regulations that could stifle growth.

In summary, the Nigerian Industrial Policy represents a strategic collaboration between government and industry to boost domestic production, increase manufacturing’s GDP share, and reduce dependency on imported goods and raw material exports, setting the stage for a more diversified and resilient Nigerian economy.

Source: Naira metrics