Policy inconsistency tops concerns list on FG’s industrial transformation plan

Olusegun Aganga, a former Minister of industry, trade, and investment, has blamed policy failures on the inability of successive governments to implement policies introduced by previous governments, stating that this has continued to deprive Nigeria of needed growth and development over the years.

Aganga, stated this while delivering a keynote address at the inauguration of the Industrial Revolution Work Group (IRWG) in Abuja. According to him, Nigeria is not short of policies but lacks the discipline to stay the course on policy implementation.

‘’South Africa whose automobile policy is 60 years old, and said policies fail in Nigeria because successive governments discard previous efforts which have pulled the country backward consistently,’’ he said.

Read also: Industrialising Nigeria: A roadmap for 2025 and beyond

Commenting on the initiative, Aganga noted that for the initiative to achieve its objectives, clear execution strategies with measurable milestones must be put in place. He stressed the need to institute strict adherence to timelines and accountability frameworks, continuous engagement with local and international investors and a shared commitment to the principles of industrial excellence

He also added that by bringing together key stakeholders from the public and private sectors, the initiative will drive a targeted and structured process to tackle the pressing challenges facing Nigeria’s manufacturing sector, resuscitate moribund industries, and create an enabling environment for sustainable industrial growth.

“Industrialisation is not just about factories; it is about jobs, innovation, self-reliance, and economic resilience. It is about transforming our abundant natural resources into value-added products that serve both local and global markets. It is about ensuring that Made-in-Nigeria is not just a label but a globally recognized mark of quality and ingenuity,” he said.

In his remarks, John Enoh, Minister of State for Industry, Ministry of Industry, Trade and Investment noted that once launched, IRWG will spearhead the transformation of Nigeria’s industrial landscape through a proactive, solutions-driven approach, fostering innovation, advanced manufacturing, and infrastructure development.

He explained that by leveraging technology, the initiative aims to facilitate seamless interaction among industry players, policymakers, investors and researchers, fostering innovation, boosting manufacturing efficiency, and enhancing Nigeria’s global industrial competitiveness.

“The IRWG Digital Hub will be a game-changer, integrating digital technology with manufacturing growth strategies to keep Nigeria at the forefront of industrial development.

Read also: IFC pumps $50 million into Lagos Free Zone to drive trade, industrial growth

‘’It will serve as Nigeria’s one-stop hub for industrial transformation – a war cabinet and think tank committed to driving the reengineering of the nation’s industrial sector. Tasked with the practical execution of policies, interventions, and solutions, the IRWG will diagnose challenges, formulate strategic responses, and implement hands-on solutions that enhance productivity, competitiveness, job creation, and economic resilience.’’

He added that the goal of the government is to remove bottlenecks, facilitate seamless industrial operations, and position Nigeria as a global manufacturing and innovation hub.

The 22-man work group is chaired by the Minister while the President of the Manufacturing Association of Nigeria (MAN) serves as the co-chair.