Nigeria has reiterated its dedication to driving industrial transformation as part of a broader economic agenda aimed at accelerating industrialisation, enhancing manufacturing capabilities, and leveraging digital technology. This was underscored by the Minister of State for Industry, Senator John Enoh, during the Renewed Hope Global Virtual Townhall Conference 2025.
The theme of the conference, “Driving Industrial Transformation for a Prosperous Nigeria under the Renewed Hope Administration,” focused on discussing key government initiatives and strategies for achieving industrial growth.
Minister Enoh detailed the eight-point agenda of the administration, with a particular emphasis on the seventh pillar, which seeks to promote industrial development through the integration of a robust digital economy and innovative manufacturing technologies. This strategy aligns with Nigeria’s goal to build a competitive industrial sector.
A key part of this transformation involves the establishment of funding mechanisms to support vital industries. Notably, the government has allocated ₦50 billion for small-scale entrepreneurs and ₦75 billion for Micro, Small, and Medium Enterprises (MSMEs), which are crucial to Nigeria’s economy, with nearly 40 million businesses operating across the country.

Further support is directed at the manufacturing sector, with an additional ₦75 billion set aside to encourage local production, with funds managed by the Bank of Industry (BOI). This funding aims to mitigate economic challenges such as high interest rates and production costs that hinder industrial growth.
Minister Enoh also highlighted several policies designed to support Nigeria’s industrial growth, including the Backward Integration Programme (BIP), which focuses on enhancing local production in sectors like sugar, and the National Automotive Design and Development Council (NADDC) Policy, which supports local vehicle assembly. The Cotton, Textile, and Garment (CTG) Policy also aims to revive Nigeria’s textile industry.
Acknowledging the challenges faced in the past in executing industrial policies, Enoh reiterated President Bola Tinubu’s commitment to ensuring that Nigeria becomes globally competitive in the realms of industry, technology, and innovation.
The Minister reassured Nigerians that the administration is focused on translating policies into tangible outcomes. The government’s efforts aim to foster sustained industrial growth, ultimately contributing to the country’s broader economic transformation in the years ahead.