Nigeria Targets 25% Industrial Growth by 2035 – Minister

By Diafa Doubra,

The Federal Government has unveiled an ambitious plan to boost Nigeria’s industrial sector, with a target of raising its contribution to the nation’s Gross Domestic Product (GDP) from the current 10 percent to 25 percent by the year 2035.

Minister of State for Industry, Senator John Owan, disclosed this in Abuja during a stakeholders’ engagement on industrial growth and economic diversification. He explained that the move aligns with President Bola Tinubu’s administration’s vision to reposition Nigeria as a competitive industrial hub in Africa.

According to Owan, the government intends to achieve this through a combination of policies and interventions, including massive investment in infrastructure, energy supply, skills development, and research. He noted that industrial growth remains one of the surest ways to create jobs, reduce poverty, and strengthen the naira.

“For Nigeria to truly diversify its economy, the manufacturing and industrial sectors must drive growth. By 2035, our target is to see industry contributing at least 25 percent to GDP, compared to the 10 percent it adds today. This is achievable with consistent reforms, partnerships with the private sector, and the right incentives,” the minister stated.

He further revealed that the government will strengthen industrial clusters, encourage local production, and ensure that small and medium enterprises (SMEs) have access to financing and markets.

Economic experts who attended the event welcomed the plan but stressed the need for sincerity in implementation, citing past government promises that failed due to poor policy continuity.

If successfully implemented, the initiative could transform Nigeria’s economy from one heavily reliant on crude oil exports into a more resilient, industrially driven system capable of competing globally.