The Manufacturers Association of Nigeria has observed that the nation can only attain an industrialized economy if the Federal Government fully executes the upcoming national industrial policy via the initiatives of the Industrial Revolution Work Group.
At a recent press conference in Lagos, where he evaluated Nigeria's industrial development, the President of MAN, Francis Meshioye, conveyed confidence in attaining an industrialized economy despite challenges in the sector, particularly in manufacturing.
Although the Nigerian economy grew by 7.45 per cent in the second quarter of 2025, manufacturing activity decreased to 1.60 per cent, and its contribution to the Gross Domestic Product fell to 7.81 per cent.
Meshioye, who also serves as a Co-Chair of the IRWG, mentioned that while Nigeria has not yet achieved industrialized status since gaining independence, continuous initiatives by the government and manufacturers are establishing the groundwork for genuine change.
He stated, "We have not yet become an industrialized nation since our independence. However, we are making progress. The Minister of State for Industry, Sen. John Enoh, is diligently working on the manufacturing sector. He is collaborating with manufacturers, as well as ministries, departments, and agencies. We are all working together. We have what is known as the Nigerian Industrial Revolution Working Group."
The IRWG brings together private sector organizations, industry representatives, and governmental bodies who convene on a quarterly basis to "reinvigorate the manufacturing industry, generate additional employment opportunities, and promote long-term economic development." One of the group's main objectives is to develop a new national industrial strategy.
The Minister of State for Industry, Sen. John Enoh, launched it in February. A previous Minister of Industry, Trade, and Investment, Dr. Olusegun Aganga, referred to the IRWG as a revival of the poorly executed Industrial Revolution Plan that was introduced in 2014.
The president of the association, Meshioye, stated that the IRWG serves as a forum where government ministries, departments, and agencies collaborate with the private sector to address obstacles hindering industrial development. He further mentioned, "This Nigerian Industrial Rehabilitation Working Group includes various sectors and government agencies. As it operates, it must examine the challenges and continue progressing."
MAN praised the contribution of the IRWG in developing the new industrial policy. MAN's Director-General, Segun Ajayi-Kadir, reportedly stated that Nigeria requires an industrial policy that "includes everything necessary for the country to become industrialized."
Meshioye stated, "On a different topic, Nigeria's industrial strategy is under discussion, and this is our approach. Therefore, during this process, if you take that route and unite the sectors with the global community, we are confident that execution will be simpler than before."
In addition to its main responsibility of accelerating the implementation of industrial policies, promoting connections between sectors, enhancing local manufacturing, and decreasing Nigeria's reliance on imports, the IRWG also functions as a monitoring and assessment tool to ensure that reforms in areas like access to funding, infrastructure development, and regulatory alignment are properly executed.
In September, the Minister of State for Industry, Enoh, stated that the Draft National Industrial Policy was prepared for revalidation. He confirmed that the policy would "act as a guide to address challenges in industry, such as energy instability, logistics problems, skill shortages, workforce training, and changes in global supply chains."
Provided by SyndiGate Media Inc. (Syndigate.info).
Posting Komentar