NIGERIA INDUSTRIAL REVOLUTION PLAN

A Plan outlines strategies for industrializing Nigeria's economy by developing manufacturing sectors and building infrastructure. It targets manufacturing companies, small enterprises, and state governments. This aims to create jobs and transform Nigeria into a manufacturing hub.

What Is This Policy?

Nigeria's strategic plan for industrialising the economy by developing priority manufacturing sectors, building industrial infrastructure, and creating millions of jobs through value-added production.

Who Does It Target?

Manufacturing companies and industrial investors Small and medium enterprises in priority sectors NEXIM Bank, BOI, and other industrial financing institutions State governments hosting special economic zones

What Does It Aim to Achieve?

Transform Nigeria from a primarily commodity-exporting economy to a manufacturing hub by developing competitive industries in food processing, textiles, construction materials, light manufacturing, and ICT.

Key Features

Sector Focus: Identifies five priority sectors: food and beverages, textiles and apparel, construction materials, light manufacturing, and ICT hardware. Industrial Parks: Promotes development of special economic zones and industrial parks with shared infrastructure to attract manufacturers. MADE-IN-NIGERIA Campaign: Advocates for government procurement and consumer preference for Nigerian-manufactured goods. Financing Support: Links industrial development to the Bank of Industry (BOI), NEXIM Bank, and other development finance institutions.

Current Status

Rollout Stage: Active - being implemented with varying intensity across administrations Coverage: Nationwide industrial sector Beneficiaries: Nigerian manufacturers, workers, and consumers Funding: Federal Government; Bank of Industry; private sector; FDI

How to Access

Industrial investors: access BOI and NEXIM financing through application SEZ investors: engage the Nigerian Export Processing Zones Authority (NEPZA) Manufacturing incentives: apply through FIRS for Pioneer Status Application method: Engage the Federal Ministry of Industry, Trade and Investment or the Bank of Industry.

Impact & Metrics

Significant expansion of industrial zones; growth in MADE-IN-NIGERIA product range; industrial policy framework for multiple manufacturing sub-sectors.

Official Resources

Website: https://www.miti.gov.ng Contact: Federal Ministry of Industry, Trade and Investment

Legal Framework

Operates under the Nigerian Investment Promotion Commission Act 1995, the Industrial Development (Income Tax Relief) Act, the Small and Medium Enterprises Development Agency of Nigeria Act, the National Office for Technology Acquisition and Promotion Act, and the Special Economic Zones Act. Draws on the ECOWAS Common Industrial Policy and the AU Accelerated Industrial Development of Africa framework.