At the Lagos Province 35 Economic Summit of the Redeemed Christian Church of God (RCCG) on Saturday, the Minister of State for Industry, Senator John Owan Enoh, delivered a stark warning: Nigeria’s vast population is a “pressure point” rather than an asset if it remains decoupled from industrial productivity.
The Minister’s address centered on the Nigeria-First policy, a strategic mandate introduced by President Bola Tinubu in 2025 designed to force a shift in the nation’s economic DNA—from an import-dependent consumer base to a rule-based production powerhouse.
1. The Power of the Purchase Order
Minister Owan Enoh identified government procurement as the most underutilized lever for industrialization. By prioritizing Nigerian-made goods in public spending, the government aims to create “guaranteed demand” that de-risks private sector investment.
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The Toyota Strategy: The Minister illustrated this with the automotive sector, suggesting that government patronage should be conditional. “If you tell a company like Toyota that unless it sets up plants in Nigeria, no government agency will buy its vehicles, it would make sense because the Nigerian market is critical to them,” he noted.
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Priority Sectors: Ongoing discussions with the Bureau of Public Procurement (BPP) are focusing on textiles, automotive parts, medical equipment, and furniture—sectors where Nigeria possesses the raw materials but lacks the finished-product capture.
2. Predictability Over Perfection
Drawing a lesson from the industrial rise of Bangladesh (garments) and Vietnam (electronics), Owan Enoh argued that these nations did not wait for “perfect” infrastructure to succeed. Instead, they offered investors policy predictability.
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The Manufacturer’s Plea: The Minister shared feedback from local industrialists who emphasized that while they desire better power and roads, they need stable rules.
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The Logic: Predictability allows businesses to plan 10-year cycles, innovate, and reinvest profits. Uncertainty, conversely, forces capital into “coping mechanisms” rather than growth.
3. Converting Demography into Demand
With a rapidly growing youthful population, the Minister warned that size alone does not equate to economic strength. The administration’s goal for 2026 is to create a “virtuous cycle” of industrialization:
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Demography creates a massive internal market.
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Procurement Policy directs that market toward local goods (Demand).
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Predictability attracts investment to build factories (Production).
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Production generates sustainable employment (Jobs).
4. Reducing the Import Burden
“We can clothe ourselves,” the Minister asserted, highlighting the absurdity of importing basic commodities that the nation has the capacity to manufacture. By aligning industrial policy with procurement reforms, the Ministry of Industry intends to drastically cut Nigeria’s import bill, thereby easing the pressure on foreign exchange reserves and strengthening the Naira.
Conclusion: The 2026 Mandate As Nigeria enters the 2026 fiscal year, the Minister’s message to the private sector and religious organizations was clear: the government is moving from “promises” to “procurement.” The success of the Nigeria-First policy will be measured not by the number of signed MoUs, but by the number of locally made products in government offices and the number of young Nigerians absorbed into the industrial workforce.
