FG to Earn N3tn from Local Goods under ‘Nigeria First’ Policy – Minister
The Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, has said Nigeria could earn an estimated N3 trillion in the short term through a nationwide campaign promoting the patronage of locally made goods.
Enoh disclosed this at a press conference in Lagos, where the agenda for the West Africa Industrialisation, Manufacturing & Trade (West Africa IMT) Summit & Exhibition 2025 was unveiled.
The Summit, scheduled for October 21 to 23 will bring together policymakers, investors, manufacturers, and industry leaders to explore opportunities for industrial growth and collaboration.
The Minister said the campaign will complement President Bola Ahmed Tinubu’s newly announced Nigeria First Policy, aimed at boosting local content, scaling industries, and creating sustainable jobs across the country.
“The previous administrations have tried to enable industrial growth by coming up with various executive orders, including Executive Orders Three and Five,” Enoh said.
He added, “These were targeted at expanding local content beyond oil and gas, particularly in public procurement, to give priority to Nigerian-made goods and services. Now, this administration is reinforcing those measures through the Nigeria First policy. What becomes of it will depend on how boldly we drive implementation.”
He added that changing Nigerians’ preference for foreign-made goods would require a campaign framed as a patriotic act, showing that every purchase of local products supports investment, industrial growth, and job creation.
Enoh also highlighted the Ministry’s plans to use the Summit to present strategies for implementing the National Industrial Policy.
He said a Ministerial Roundtable would be held to place industrial policy at the centre of national dialogue, aiming to find practical ways to support local manufacturers, MSMEs, and private sector players in achieving the policy’s objectives.
Earlier, dmg Nigeria Events, organisers of the Summit, outlined the programme, which is designed to advance industrialisation, manufacturing, and trade across West Africa.
Wemimo Oyelana, Country Director – Nigeria & Portfolio Director – Energy at dmg Nigeria Events, described the Summit as a platform to drive collaboration and innovation, saying the decisions made around industrialisation and technology during the event would shape the region’s growth for generations.
The 2025 Summit, themed “Accelerating West Africa’s Sustainable Industrial Revolution for Economic Prosperity,” will convene stakeholders from various sectors to discuss industrial competitiveness, trade integration under the African Continental Free Trade Area, access to finance, infrastructure, and technology-driven manufacturing.