Nigerian Industrial Policy Shows Early Success, Needs Focus

Senator John Owan Enoh, the Minister of State for Industry, reviewed the Nigerian Industrial Policy (NIP) during the second technical session of the Industrial Revolution Work Group (IRWG) in Lagos. Launched in February 2026, the NIP aims to address key constraints in Nigeria's industrial ecosystem.

Enoh reported that within its first 90 days, the NIP has mobilized over $380 million for industrial projects and proposed a ₦350 billion MSME development fund. He noted the training of 400 young Nigerians in mechatronics and the certification of Nigerian products for continental markets.

Segun Ajayi-Kadir, Director-General of the Manufacturers Association of Nigeria, pointed out that while manufacturing shows resilience, it has not translated into significant growth compared to broader industrial figures. He urged for improvements in the business environment, reduced borrowing costs, and resolution of the power crisis to enhance manufacturing performance.