By Jennete Ugo Anya
The federal government and manufacturers are moving Nigeria’s industrial policy from planning into financing and execution, with $380 million mobilised under the Industrial Revolution Work Group.
DEVELOPMENT: At the IRWG Technical Session 2.0 in Lagos, government and the Manufacturers Association of Nigeria (MAN) agreed on measures targeting the sector’s persistent constraints around power, finance, skills, infrastructure and regulation.
The group proposed a N350 billion micro, small and medium enterprise (MSME) Development Fund, training 400 Nigerians in mechatronics, and certification of 131 companies and 220 products for AfCFTA access.
Minister of State for Industry, Sen. John Enoh, said: “We now have a structured plan; it’s comprehensive, and it is presently being executed.”
He also disclosed plans to break ground on a power project for an industrial cluster in Madalla, Niger State, with Welbeck Electricity committing to deliver power by December.
DATA: Manufacturing grew 3.24 percent in Q2 2026, but its share of real gross domestic product (GDP) fell to 7.72 percent. Textiles, apparel and footwear contracted 1.23 percent.
The IRWG’s 30/60/90-day implementation matrix covers energy and infrastructure, finance and incentives, market integrity, regulatory reform, and skills and innovation.
SIGNIFICANCE: The $380 million mobilisation signals an attempt to address one of Nigeria’s longstanding industrial constraints, the gap between policy ambition and investable execution. But the sector’s declining GDP share despite output growth underlines the scale of the challenge.
The Director-General of MAN, Segun Ajayi-Kadir, called for Bank of Industry (BOI) recapitalisation and cheaper credit, warning: “If you give a manufacturer any facility that is above single digit, it’s actually working for the banks.”
NEXT MOVE: Attention shifts to the ministerial roundtable on affordable long-term finance and the proposed National Industrial Compact. The Madalla power project, BOI recapitalisation and delivery of single-digit financing will be key implementation tests.
OUR LENS: The industrial agenda is increasingly being framed as an execution problem, not a policy deficit. The real test is whether government can convert the new financing commitments and 30/60/90-day targets into lower production costs, stronger manufacturing capacity and measurable private-sector investment.
Jennete Ugo Anya is a journalist and researcher with interests across Nigeria’s economy, public policy, business, development and strategic communications.
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