The Federal Government has announced plans to allocate up to five per cent of Nigeria’s Gross Domestic Product to industrial financing.
This is contained in the Nigeria Industrial Policy 2025 released by the Federal Ministry of Industry, Trade and Investment.
The policy is designed to reposition the economy toward mass production, stronger export performance, and sustainable employment growth.
The document emphasised that adequate funding is critical to the success of any industrial policy, noting that the framework reinforces development finance mechanisms.
“We recognise that no policy succeeds without financing. This is why the NIP strengthens our development finance architecture,” the policy document stated.
The government plans to recapitalise the Bank of Industry to N3 trillion by 2026 and expand sector-focused intervention funds.
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President Bola Tinubu formally unveiled the Nigeria Industrial Policy 2025 last week, directing swift implementation across ministries and agencies.
The policy seeks to revive dormant factories, strengthen domestic manufacturing, and position Nigeria as a competitive industrial hub.
It introduces a structured implementation plan with defined timelines, clear institutional responsibilities, and measurable performance targets.
The framework consolidates fiscal, monetary, export, and industrial measures into a unified national strategy aimed at accelerating industrial transformation.
The policy aligns closely with President Tinubu’s Renewed Hope agenda, particularly its focus on local content development and import substitution.
Key provisions include enforcing a Nigeria First policy to prioritise locally manufactured goods and reduce dependence on imported raw materials.
The policy aims to increase manufacturing’s contribution to Nigeria’s GDP to between 20 and 25 per cent by 2030.
Approved and validated in 2025, the framework represents a coordinated national strategy integrating industrialisation, trade, and investment policies.
