Oye Urges Effective Implementation of Nigeria's NIP2025

Dele Oye, the Chairman of the Alliance for Economic Research and Ethics (AERE), cautioned that Nigeria's Industrial Policy (NIP2025) might not achieve its goals unless the government prioritizes disciplined implementation over mere policy formulation. In a statement, Oye acknowledged the federal government's industrialization efforts but stressed that existing commitments must be executed to address the challenges faced by small businesses.

NIP2025, launched by President Bola Tinubu in February and designed by Senator John Owan Enoh, aims to diversify the economy and enhance Nigeria's industrial status. Oye noted that while the policy is comprehensive and aligned with initiatives like the African Continental Free Trade Area (AfCFTA), its success hinges on reaching struggling entrepreneurs.

He highlighted the critical role of Micro, Small, and Medium Enterprises (MSMEs), which contribute over 46% to Nigeria's GDP and employ about 88% of the workforce. Oye warned that without bridging the gap between policy intentions and practical delivery, Nigeria's industrialization goals would remain aspirational.