\n\nThe Federal Government has secured more than $380 million in strategic investment commitments within the first 90 days of implementing the Nigeria Industrial Policy (NIP) 2025, as part of efforts to accelerate local manufacturing, increase exports and strengthen industrial development across the country.
A 90-day progress report released by the Office of the Minister of State for Industry, John Owan Enoh, revealed that the policy has progressed beyond its launch stage, with key programmes now being implemented across its eight strategic pillars.
According to the report, the government has also advanced plans for the proposed N350 billion Micro, Small and Medium Enterprises (MSMEs) Development Fund while activating five quick-impact industrial programmes in partnership with the Bank of Industry.
The ministry said the early achievements demonstrate the Federal Government’s commitment to using industrialisation as a major driver of economic growth, job creation, investment attraction and increased retention of value within the Nigerian economy.
Speaking on the progress recorded so far, Enoh said the Nigeria Industrial Policy was designed as a practical framework for delivering economic transformation rather than a document that would remain inactive.
“The Nigeria Industrial Policy is not intended to remain a document on the shelf. It is a delivery instrument for productivity, competitiveness, investment, job creation and national value retention,” he said.
The minister added that the first 90 days focused on establishing the necessary foundations for successful implementation, including financing arrangements, partnerships, industrial value-chain development, skills acquisition, infrastructure improvement and accountability measures.
A major component of the policy implementation has been the promotion of local production and increased patronage of Nigerian-made goods through the Federal Government’s Nigeria First Policy.
The ministry disclosed that it has begun engagements with key stakeholders, including the Bureau of Public Procurement, National Automotive Design and Development Council, the Manufacturers Association of Nigeria, local automotive manufacturers and stakeholders in the cotton, textile and garment sectors.
The engagements are aimed at strengthening government support for locally produced goods, expanding domestic value addition and ensuring compliance with local procurement policies across public institutions.
The ministry stated that the industrial policy would continue to focus on improving Nigeria’s manufacturing capacity, supporting businesses, developing skilled manpower and creating an environment capable of attracting more private sector investment.
It added that the government would sustain partnerships with industry players and financial institutions to ensure that the policy delivers measurable outcomes for businesses, workers and the wider economy.
