•Inaugurates Industrial Revolution Work Group
•Olusegun Aganga: lack of continuity country’s major problem, not plan
Minister of State for Industry, Senator John Enoh, yesterday, called for dramatic decisions against multinational companies that had been profiting from the country over the years without adding economic value to Nigerians.
Speaking while inaugurating the Industrial Revolution Work Group (IRWG) in Abuja, Enoh said the country must stop creating jobs for other countries, else the employment generation strategy of the government would be defeated.
The minister said Toyota, for instance, had continued to benefit from the economy over the years without adding value to the auto industry.
He warned that if the development continued, “We may stop buying some classes of vehicles.”
He said an inventory was currently being taken to ascertain companies that had refused to embrace backward integration, adding that unless bold measures are taken against them, it will continue to be business as usual.
He stressed the need to protect local industries and create a level playing ground for them to compete globally.
Enoh said most local companies were currently producing and could not sell, as they were challenged by unfair competition with no level playing ground.
He said local firms were still challenged by policy and regulatory bottlenecks, power, and finance.
The minister said it was a shame that “we don’t even have an industrial plan”.
He said, “Today, we do not merely unveil a policy framework or convene a gathering; we ignite a transformative movement—one driven by the imperative to industrialise, innovate, and elevate Nigeria to global prominence.
“History has shown that no nation has ascended to economic greatness without establishing a formidable industrial foundation. The industrial powerhouses of our time – Germany, China, South Korea, and the United States – exemplify that economic sovereignty is deeply anchored in manufacturing, innovation, and value creation.
“Nigeria must now embark on this journey with boldness and clarity of vision. We are blessed with vast natural resources, an industrious and youthful population, and an entrepreneurial spirit that is second to none.
“What we require now is a deliberate, structured, and results-oriented industrial roadmap. Today marks the beginning of that journey.”
Enoh stated that IRWG had the mandate established to design, champion, and implement industrial strategies that will resurrect dormant industries, empower a next generation of manufacturers, and strategically integrate Nigeria into the global industrial economy.
He said, “This is not a pursuit of superficial aspirations; it is a quest for measurable, tangible, and paradigm-shifting achievements.”
However, former Minister of Industry, Trade, and Investment, Dr. Olusegun Aganga, in his keynote address, said lack of continuity remained the country’s biggest problem, not planning.
Aganga said the country had good plans but remained short on implementation.
He said monetary policy was not enough to address macroeconomic challenges in the country and called for deliberate measures to boost industrialisation and empower the citizens.
He said there was need to streamline customs processes.
Aganga said Nigeria stood on the precipice of transformation, and urged Nigerians to seize the opportunity with the determination and foresight it demanded.
He said the IRWG was not just another initiative, but the foundation of a new economic dawn.
Calling for public-private collaboration to drive the process, the former minister said, “No government, no matter how well-intentioned, can singlehandedly drive industrial transformation.”
He said, “The private sector must play a leading role in this journey. This is why the IRWG’s membership structure is so vital—it brings together the government as an enabler, the private sector as the engine of growth, and academia as the knowledge repository that fuels innovation and skills development.”
Aganga explained, “For decades, Nigeria has grappled with the challenge of industrial stagnation, where once-thriving industries have succumbed to inefficiencies, outdated policies, infrastructural decay, and global competition.
“However, today is not a day to dwell on past failures—it is a day to embrace a new future, one that aligns with our collective aspirations for national economic transformation.
“The IRWG represents a unique, strategic, and pragmatic approach to industrial policy-making. By bringing together key stakeholders from the public and private sectors, this initiative will drive a targeted and structured process to tackle the pressing challenges facing Nigeria’s manufacturing sector, resuscitate moribund industries, and create an enabling environment for sustainable industrial growth.”(Thisday)
