Economy
SEN. John Enoh, Minister of State for Industry, Trade and Investment, says the ministry’s impact is evident in industrial expansion, manufacturing growth, and digital economy advancements.
Enoh, during the Renewed Hope Global Virtual Conference 2025, reaffirmed the Federal Government’s commitment to driving industrialisation through strategic policies and investments.
“The ministry may not be constructing roads and bridges, but its impact is seen in industrial expansion, manufacturing growth, and digital economy advancements.
“Agenda Seven of President Bola Tinubu’s economic blueprint focuses on accelerating industrialisation through digital economy, manufacturing, and innovative technology.
“We are periodically evaluated based on our achievements in this regard,” he said.
Enoh urged stakeholders to review the 2025 outlook published on the ministry’s website, which outlined key objectives and measurable targets for industrial growth.
Responding to concerns about tariff holidays on essential goods, the minister said that all announced government policies were being fully implemented, though pricing outcomes are influenced by multiple economic factors.
“The government does not announce policies that it does not intend to implement.
“However, price changes are determined by various challenges, including infrastructure, power, and transportation, all of which impact the final cost of commodities beyond tariff reductions,” he said.
The minister acknowledged the persistent challenges affecting the manufacturing sector, such as inadequate power supply and logistics bottlenecks, but reaffirmed the government’s resolve to address them.
“In spite these constraints, we are determined to make industries work and manufacturing thrive on the country.
“We have engaged extensively with industry leaders, including the Manufacturers Association of Nigeria, the National Association of Chambers of Commerce, Industry, Mines and Agriculture , and the Nigerian Association of Small and Medium Enterprises,” he said.
The minister commended Tinubu’s pro-business stance, noting that the administration viewed inherited economic difficulties as opportunities for meaningful reform.
He also highlighted Nigeria’s participation in the Special Agro-Processing Zones (SAPZs) initiative, supported by the African Development Bank (AfDB) and other financial institutions.
“Eight states initially benefited from a 570 million dollars facility.
“During the African Investment Summit in Rabat, Morocco, an additional five billion dollars was secured, underscoring strong investor confidence in Nigeria,” he said.
To further drive industrialisation,the minister said that the government was establishing industrial zones and hubs to enhance efficiency and support agro-industrial growth.
“This government is intentional about creating an enabling environment for industries.
“We will build on past successes and do even more to ensure that Nigeria remains competitive in global trade and manufacturing,” he said. (NAN)
2nd February, 2025.
C.E
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