FG calls on private sector to power Nigeria’s industrial revolution

The Federal Government has called on the private sector to actively drive Nigeria’s new industrial revolution, anchored on a bold reform agenda spearheaded by the recently inaugurated Industrial Revolution Work Group (IRWG).

Speaking at the 16th National Council on Industry, Trade and Investment (NCITI) in Lagos, John Owan Enoh, Minister of State for Industry, Trade and Investment, stated that Nigeria’s economic transformation hinges squarely on the collaborative momentum between public institutions and private enterprise.

“This is no time for pilot programmes or policy lip service. We are entering an era of full-scale industrialisation where every investment, every reform, every decision must drive us toward a globally competitive, inclusive, and innovation-led economy.

“I call on the private sector and sub-national governments to embrace this momentum with both hands,” According to him. The IRWG offers an unprecedented opportunity to convert Nigeria’s vast potential into measurable industrial might.

This was disclosed in a statement signed by Ifeoma Williams, Senior Special Adviser on Strategic Communications to the Minister.

The Council, held under the theme “Accelerating Diversification by Leveraging Industry, Trade and Investment for Shared Prosperity,” convened top-level stakeholders, including federal and state officials, industry leaders, and development partners. It reviewed 75 memoranda, including 30 actionable recommendations focused on strengthening the industrial landscape and promoting real-sector productivity.

“This Council is not just another policy gathering, it is a clarion call to transform ambition into action. We stand on the edge of a new industrial dawn. The time to act is not tomorrow, it is now,” the minister said

Enoh emphasised that the IRWG, inaugurated in February, represents a “strategic engine room” designed to dismantle structural bottlenecks, stimulate value-added manufacturing, and build viable industrial clusters.

He outlined five foundational pillars of the initiative: Financing and Investment Transformation, Energy and Infrastructure Modernisation, Regulatory Reforms and Ease of Doing Business, Product Standards and Market Expansion and Human Capital Development and Industrial Innovation

He added that under President Bola Ahmed Tinubu’s Renewed Hope Agenda, several flagship projects are set to roll out in the coming months, including: Agro-processing hubs in Kano, focused on converting cassava into ethanol and starch while creating thousands of jobs.

Textile clusters in Aba and Lagos, designed to revive the garment industry and enhance export capacity and a pharmaceutical production enclave in Ogun State, aimed at reducing import dependence and bolstering medical supply chains.