The Nigerian Economic Summit Group (NESG) has underscored industrialisation as a cornerstone for driving Nigeria’s economic growth and long-term prosperity, ahead of the 31st Nigerian Economic Summit scheduled for October 6–7, 2025, in Abuja.
With the subtheme “Driving Industrialisation-led Growth as a Critical Strategy for Economic Transformation”, the summit will address how Nigeria can transition from a consumption-driven economy to one rooted in production and value creation.
According to Ayanyinka Ayanlowo, Acting Head of Strategic Communication and Advocacy at NESG, Nigeria’s economic potential has been hindered by deindustrialisation, overreliance on imports, and minimal value addition in key sectors. The group believes that industrialisation offers a strategic pathway to overcome these challenges.
“Industrialisation unlocks manufacturing potential, boosts productivity, and strengthens linkages across agriculture, extractives, and services,” the NESG stated.
Summit Focus Areas
The two-day event will bring together industry leaders, policymakers, and entrepreneurs to explore strategies for building globally competitive industries powered by innovation and local content development. Discussions will centre on:
-
Revamping Nigeria’s industrial policy.
-
Supporting small and medium enterprises (SMEs).
-
Strengthening value chains.
-
Leveraging technology and innovation.
-
Expanding access to finance.
The NESG also stressed the need for comprehensive reforms in regulatory frameworks and infrastructure to create an enabling environment for industrial growth. This includes:
-
Streamlining business processes.
-
Expanding and stabilising power supply.
-
Facilitating trade.
-
Advancing skills development.
A National Ecosystem of Productivity
The group emphasised that industrialisation goes beyond factory development—it involves creating an integrated ecosystem where skilled labour, reliable infrastructure, financing, and supportive policies work together to generate wealth and economic opportunities for millions of Nigerians.
The NESG called for coordinated public-private sector collaboration to drive reforms and foster partnerships, positioning Nigeria as the industrial powerhouse of West Africa.
