The Federal Government has unveiled an ambitious plan to channel up to five percent of Nigeria’s Gross Domestic Product into industrial financing under the Nigeria Industrial Policy 2025.
The framework, released by the Federal Ministry of Industry, Trade, and Investment, is designed to strengthen large-scale production, boost exports, and generate sustainable jobs.
A major pillar of the policy is funding. Authorities say the success of industrial reform depends heavily on access to long-term capital.
To support this, the government plans to recapitalise the Bank of Industry to three trillion naira by 2026, while expanding sector-specific intervention funds in collaboration with the Central Bank of Nigeria.
The News Chronicle understands that the financing target is one of the boldest elements of the new policy, signaling a shift from policy statements to measurable financial commitments to revive dormant factories and strengthen domestic manufacturing capacity.
Last week, President Bola Tinubu formally unveiled the strategy and ordered the government agencies and departments to fast-track its implementation. Encouragement of local content, less dependence on imports, and value addition across important industries help the paper fit with his Renewed Hope platform.
The approach also offers equity-based financing schemes for small businesses, credit guarantees, and planned performance indicators.
By 2030, the government expects manufacturing to constitute between 20 and 25 percent of national output, thereby establishing Nigeria as a more developed, export-oriented economy.
