NIPSS CALLS FOR CONSISTENT IMPLEMENTATION OF NEW INDUSTRIAL POLICY

The National Institute for Policy and Strategic Studies has said outdated industrial policies previously constrained Nigeria’s manufacturing sector, stressing that consistent implementation of the country’s new framework will be critical to future growth.

NIPSS Director-General, Professor Ayo Omotayo, disclosed this at the Manufacturers Association of Nigeria’s 54th Annual General Meeting and Made-in-Nigeria Exhibition in Lagos.

He said a 2023 review by NIPSS found that Nigeria’s industrial policy had become obsolete and was undermining local production.

According to Omotayo, discussions with the Manufacturers Association of Nigeria contributed to the development of a new industrial policy by the Ministry of Industry, Trade and Investment.

He said the new framework would only make a difference if government and other stakeholders consistently implemented its provisions.

MAN President, Francis Meshioye, also called for stronger support for locally produced goods and a “Nigeria First” approach in public procurement.

He said manufacturers spent about N1.35tn on alternative power in 2025, up from N1.11tn in 2024, while raw material imports reached N3.53tn in the first six months of 2025.

Meshioye said the success of the Made-in-Nigeria agenda should be measured through lower production costs, stronger domestic supply chains, increased investment and higher manufacturing capacity.