FG inaugurates working group to drive industrial revolution

The federal government has inaugurated an Industrial Revolution Work Group (IRWG) to drive the country’s manufacturing and revive moribund mills.

The working group inaugurated in Abuja yesterday, will be led by Owan Enoh, minister of state for Industry, Trade and Investment and co-chaired by Francis Meshioye, president of the Manufacturers Association of Nigeria (MAN).

The group’s other memebers include top government officials, development partners, and members of the organised private sector.

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Speaking at the inauguration, Enoh said the newly created group is tasked with bridging Nigeria’s current industrial challenges and its future through stakeholder engagement, evidence-based policy development and implementation consistency.

He emphasised the importance of a robust industrial foundation in achieving economic greatness, citing global industrial powerhouses like Germany, China, South Korea, and the United States.

He noted that Nigeria possesses the necessary resources and workforce but requires a structured and results-oriented roadmap.

The IRWG aligns with the Presidential Council on Industrial Revitalization Roadmap, established in October 2023. Its mandate is to drive economic transformation through strategic policy development, stakeholder engagement, and consistent implementation.

The minister reaffirmed the government’s commitment to ensuring industrialisation remains a central driver of economic growth under the Renewed Hope Agenda.

He called for collaboration between the government, private sector, and academia, stressing that the success of the IRWG will be measured by tangible outcomes like factory reopenings, job creation, and increased economic prosperity.

In his keynote address, Olusegun Aganga, former minister of Industry, Trade, and Investment emphasised the need for continuity in industrial policies, policy reform, infrastructure enhancement, access to finance, and technological innovation to drive industrial growth.

With the IRWG in place, Nigeria is poised to reclaim its position as an industrial powerhouse on the global stage, he said.

He called for continuity in industrial policies to ensure sustainable growth.

Reflecting on past challenges, he acknowledged that Nigeria had previously launched an Industrial Revolution Plan in 2014 but failed to sustain its implementation.

He emphasised that industrial development requires deliberate and consistent action, pointing to global examples such as China, Germany, and the United States, where industrial policies have been rigorously implemented and refined over time.

Aganga outlined the critical role of industrialisation in job creation, economic diversification, and national wealth accumulation.

He noted that Nigeria has vast natural resources, including over 45 commercially viable solid minerals, a top-ranking oil and gas sector, and an extensive agricultural base.

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However, he noted, the nation must add value to these resources rather than continue exporting raw materials without developing a strong manufacturing base.

He urged stakeholders to prioritize policy reform, infrastructure enhancement, access to finance, and technological innovation to drive industrial growth.

He also emphasised the necessity of a stable macroeconomic environment, efficient customs procedures, and regulatory frameworks that support industrial expansion and export competitiveness.

Also, Nura Rimi, permanent secretary of the Federal Ministry of Industry, Trade, and Investment, highlighted the initiative’s strategic importance within the government’s transformation agenda.

He urged members of the IRWG to approach their mandate with creativity, innovation, and strategic collaboration, emphasising that industrialization remains the most viable pathway to economic self-sufficiency and a stronger national currency.