The federal government is initiating a bold new industrial roadmap aimed at more than doubling the sector’s share of national output over the next decade, projecting a rise from the current 10% contribution to 25% of GDP by 2035.
Minister of State for Industry, Senator John Owan, disclosed the plan at the Gastech Exhibition and Conference in Milan, describing the framework as a defining milestone of President Bola Tinubu’s administration.
According to the minister, the policy signals Nigeria’s transition away from a resource-dependent economy toward a competitive, innovation-led industrial hub.
Addressing participants at the conference, he said:”This is the first time in decades that Nigeria has adopted a comprehensive industrial framework”, adding that the move is expected to reshape the country’s growth trajectory.
Owan credited President Tinubu’s early reforms – including fuel subsidy removal and exchange rate unification – with stabilising the economy and creating conditions for investment.
“With reforms in motion and new frameworks validated, the next decade will be defined by industrial expansion, energy optimisation, and global partnerships,” he stated.
In a related development, Owan said that the government has validated the Nigeria Industrial Policy (NIP) aimed at driving inclusive growth, job creation and national competitiveness, adding that it was designed to transform the industrial sector into the true engine of sustainable growth and national pride.
He explained that the policy had been subjected to wide consultations involving the Manufacturers Association of Nigeria (MAN), Organised Private Sector of Nigeria (OPSN), Nigeria Economic Summit Group (NESG), the academia, labour, development partners and MSMEs.
He emphasised that the success of the policy would depend on effective execution, noting that policies, however brilliant, do not transform nations without measurable implementation.
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