WorldStage (Abuja)– Even in the face of public apathy, cynicism and weak financial precedents, the federal government appears undaunted in driving home its campaign promise of returning the country to a strong manufacturing economy within Africa, and West Africa in particular.
THE VISION
As a kick-start to the industrialization ambition, the government, through the Ministry of Industry, Trade and Investment, recently released its plans to unveil a National Industrial Policy roadmap in October 2025, coinciding with the West Africa Industrialization, Manufacturing & Trade (West Africa IMT) Summit.
The policy will be formally unveiled at the West Africa IMT Summit and Exhibition 2025 in Lagos, through the collaborative effort of the Ministry of Industry, Trade and Investment and key stakeholders like the Manufacturers Association of Nigeria (MAN).
Having as its practical framework, the roadmap, according to the collaborators, is being developed as a practical working document, not just a theoretical masterpiece, to directly address real-world challenges. And addressing past failures, it acknowledges previous Industrial Revolution Plans that did not achieve sustained implementation but the current effort is said to prioritize deliberate, consistent action and stakeholder engagement.
The policy aims to reverse the nation’s dependence on imported goods, boost the domestic manufacturing sector, add value to raw materials, and create jobs. The roadmap is envisioned as a practical, working document designed to tackle challenges in energy, infrastructure, and regulation to foster industrial growth and global competitiveness.
It’s institutionalized on the key objectives and vision of boosting domestic manufacturing by seeking to enhance the manufacturing sector’s contribution to the Gross Domestic Product (GDP) and strengthen local production.
It’s other objectives are transforming raw materials into value-added products to reduce dependency on raw material exports (Value-Added Products); creating a dynamic, resilient, and sustainable economy through industrial rebirth (Economic Transformation); generating productive jobs and providing dignity and hope for millions of citizens (Job Creation and Dignity); and positioning Nigeria as a leader in the global industrial economy (Competitive Positioning).
INDUSTRIALIZATION AND PAST FAILURES
Truly the importance of industrialization to the economic development of any country cannot be overemphasized. In fact, the relationship between the two is a direct one. From industrialization to economic growth, thus, almost all economically developed countries are industrialized.
Industrialization is the process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods. Individual manual labour is often replaced by mechanized mass production, and craftsmen are replaced by assembly lines.
It is also the process of transforming an extraction based economy into a manufacturing based economy. While the industrialized nations rely on the transformation of these raw materials into finished goods for domestic use and export, Nigeria is yet to key into that transformational initiative.
However, as high-sounding and auspicious the industrialization ambition seems, there are fears it may go the way of the many before it. In Nigeria, efforts to industrialize the country began after independence with the first national development plan. The first national development plan (1962 – 1968) focused mainly on import substitution as a means of strengthening the Nigerian manufacturing sector.
Other focuses of the policy were increased participation of Nigerians in control of the economy, expanding the technological base of the country to support industrialization and so on. However, despite all these efforts by the government to revamp the economy and place it on the part of development, Nigeria remains largely under developed and industrialized.
Nigeria’s industrialization, according to industry experts, researchers and academics, often faces ten key problems of inadequate infrastructure like power and transport, limited access to finance, a lack of skilled labor, insufficient domestic raw materials, dependence on expensive foreign technology, chronic political instability and corruption, weak government policy implementation, currency volatility, insecurity, and a weak overall economic structure that hampers growth.
MUCH ADO ABOUT INFRASTRUCTURE
In the case of inadequate Infrastructure, a significant problem is the poor state of essential infrastructure, including unreliable electricity supply, poor road networks, and insufficient water and telecommunications services, which all hinder industrial operations.
With regard to lack of access to finance, many industrial ventures struggle to secure adequate working capital and access affordable loans from financial institutions due to stringent conditions and high interest rates.
The problem of shortage of skilled labour usually arises from a pronounced skills gap in Nigeria, as the educational system hasn’t kept pace with the technical and vocational demands of modern industries, resulting in a lack of proficient workers.
Insufficient raw materials, though debatable, is manifested in Nigeria facing a deficit of locally sourced raw materials for its industries, often requiring expensive imports and negatively impacting production costs and competitiveness.
There’s also the challenge of dependence on foreign technology due to which most Nigerian industries rely on imported technology and machinery, which are costly and limit the potential for local innovation and competitiveness in global markets.
Again, there is the problem of political instability and corruption which deter foreign and local investment, while also undermining efficient policy implementation and fair business practices.
Weak policy implementation is another major challenge to industrialization in Nigeria. Despite having industrial policies, the government often struggles with effective conceptualization and implementation of these policies, weakening their impact on industrial growth.
What of economic and currency instability which is induced by volatility in the national currency and broader economic instability create an uncertain environment that discourages long-term investment and growth for industries.
Moreover, there’s the challenge of insecurity, occasioned by widespread insecurity in various regions across the country and posing a significant threat to industrial assets and personnel, further discouraging potential investments.
Worse still is the weak entrepreneurship and effective management skills within the private sector which limits growth and efficiency in Nigerian industries.
NEW SPIRIT
With these arrays of encumbrances, not a few Nigeria doubt the coming industrialization policy beating the failure of the past. However, the government appears to be fully aware of all these bumps in the way of another match into industrialization effort when it acknowledged thus: “For years, Nigeria has talked about industrialization, but there’s been one big problem: the skills gap. We have millions of young people, yet many companies complain they can’t find the right talent. This policy aims to fix that.
‘Nigeria’s economy is full of potential. We have oil, agriculture, a growing tech scene, and a huge population. But without skilled workers, industries can’t grow. For a nation with a median age of about seventeen, Nigeria is an incredibly young country. This youthfulness is a gift, but it is also a responsibility. We must make our young people not just a demographic statistic but a central component of our policy-making process,” President Tinubu had said of the policy.
He told participants: “An improvement in human capital, along with infrastructure and sound policy, is the bridge between development and setback in every nation. We cannot afford to divest from our people because the world will not pause to wait for us.”Our mission is to align the education and training of our young people, and indeed the larger workforce, with the needs of industry. We must reverse the mismatch between what our institutions produce and what our economy requires. This cannot be realized unless we foster robust collaboration between the public and private sectors to prepare young Nigerians for the demands of today’s job market,” he added.
“There is a high level of graduate unemployment as many young Nigerians leave school with no training and job ready skills and industries depend on imports, leading to importing foreign workforce as machine operators to engineers since the local workforce is under-trained.
“The need to improve the current training is in light of previous programmes that have had little long lasting impact because of inadequate funding, implementation and lack of relevance with current industry requirements.”
Just as Tinubu acknowledged the challenges his industrialization policy will face, many public analysts and financial experts have also injected their expertise in identifying problems that may critically challenge the new policy and raise other concerns.
In their various, respective contributions, Philip Deewua, Abubakar Sule, Jonathan Danladi, Ebele Stella Nwokoye, Ifeanyi Onyeonoru, Dr. John o.c. Aiyedogbon, Olufemi Omoyele and Salisu Ojonemi (P.hD) point out challenges to face by the ambitious policy and solutions to them.
On funding they reason training facilities could stagnate in the absence of steady funding. “It is imperative that the manpower policy get consistent funding in order to be successful. Opening ostentatious training facilities is insufficient; they also need to be maintained, manned by certified teachers, and furnished with modern equipment. Facilities run the risk of becoming abandoned projects if funding stops in the middle, a fate that has befallen several Nigerian development projects. Transparent financial planning and long-term budget commitments will be essential.”
They also raise the issue of corruption saying the impact of the policy will be diminished if resources are misdirected. They argue that history proves that corruption undermine even the most effective policies. “Money intended for stipends, training, or equipment could go to the wrong people. When that occurs, public trust is damaged, programs fail, and trainees are undervalued. To guarantee that every naira is used for its intended purpose, stringent oversight, impartial audits, and whistle blower safeguards are required.
“Millions of rural Nigerians, especially women, young people, and people with disabilities, will be left behind if the program is focused on metropolitan industrial centers. This might increase inequality and lessen the policy’s impact on the country. To guarantee that the advantages are felt throughout the nation, decentralized training facilities, mobile skill units, and community-based outreach initiatives will be crucial.”
According to them, The National Industrial Manpower Development Policy has the capacity to change Nigeria’s socioeconomic structure and provide millions of people with opportunities. Nonetheless, they point out, political will, open management, and effective collaboration between the public sector, private sector, and local communities are necessary for its success.
“To the common Nigerians, this is not one of the policies instead it is a promise to transform potential to opportunity, and opportunity to prosperity. Properly implemented, it would translate into a future of either unemployed citizens and no workforce, or an intelligent, productive labour pool in a position to fuel the expansion of the country,” they concluded.
To convince the citizenry and encourage their buy in into the new industrial policy, the Minister of State for Industry, Senator John Owan Enoh, said the forthcoming summit is a testament to how President Tinubu’s leadership is always touching the right spots, adding that it is very intentional of him to appoint the first Senior Special Assistant on Industrial Training and Development.
“So, at this gathering, I believe what we are doing is a celebration of that fact. What we are doing is a realization of what the President’s imagination was. I mean, there are moments in a nation’s journey when history itself seems to lean forward. When history does so, it is to watch and see whether we will be able to take advantage of the opportunities before us. So, for me today in this hall, we stand at such a moment,” Enoh said.
The Minister also explains that the summit is not just a ceremony or another line in the calendar of events, but a crossroads where Nigeria elects whether to remain as a nation of vast potential – often admired but unrealized, or whether the country is ready to step forward as a nation whose productivity matches its promise.
Also, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, says national manpower is a key ingredient for attracting and retaining domestic investment for industrialization to accelerate Nigeria’s economic development.
“Therefore, this gathering offers a timely opportunity to deepen our conversation and lay out a bold actionable strategy for a more resilient economy.
“Nigeria’s path to accelerating industrialization, economic diversification and export-led growth is clear as a mandate of the Federal Ministry of Industry, Trade and Investment, firmly anchored in President Bola Ahmed Tinubu’s 8-point Renewed Hope Agenda, which lays out a blueprint for building a stronger, more productive, competitive and inclusive economy.”
On his part, the Minister of Labour and Employment, Alhaji Mohammed Maigari Dingyadi, describes the summit as a platform not just for dialogue but to forge a unified direction on skills development, certification and industrial manpower planning.
Dingyadi says, “We must therefore depart from individual efforts to more robust and collaborative efforts to drive this critical mandate where every player knows his role, collaborates effectively and works towards one shared mandate.”
Similarly, the Senior Special Assistant to the President on Industrial Training and Development, Mr. Adamson Ayinde Oluwatoyin, says the summit is a turning point in the collective “quest to shape the future of Nigeria’s workforce under the vision of President Tinubu and in alignment with the Renewed Hope Agenda.”
Oluwatoyin notes that manpower development is the bridge between the nation’s abundant potential and the productivity required, adding that Nigeria has the resources, talent and ambition.
He, however, says that without skilled, adaptable and innovative people, the country’s industrial dream will remain unrealized.
Also speaking, the Director General of the Industrial Training Fund (ITF), Dr Afiz Ogun Oluwatoyin, says the summit offers an opportunity for policy dialogue, setting up national targets in skills development and discussing the framework for cohesively mobilizing national resources.
Oluwatoyin commended President Tinubu for his foresight in appointing square pegs to fill square holes in relevant Ministries, Departments and Agencies, with mandates on skills as new perspectives in dealing with the nation’s industrial manpower problems as they emerge.
