Minister urges Nigeria to prioritise local production over imports
The Minister of State for Industry, Senator John Owan, has called for Nigeria to reduce its reliance on imports and focus on boosting domestic manufacturing. He emphasised that a large population alone does not guarantee economic growth and highlighted the importance of predictable policies and coordinated execution. Owan pointed to the Federal Government’s Nigeria-First policy as a key driver for prioritising local industries. He also stressed that aligning industrial policy with procurement reforms will help create jobs and strengthen the economy.
TLDR
- Senator John Owan said Nigeria must reduce dependence on imports and channel its population into productive industrial activity.
- He highlighted the Nigeria-First policy, which prioritises Nigerian industries in procurement activities.
- Owan emphasised that predictable government policy and public procurement can stimulate local manufacturing.
- He cited examples from countries like Bangladesh and Vietnam, which built strong industries through policy predictability and value chain focus.
- The minister warned that Nigeria’s large population could become a liability if not matched by industrial capacity and job creation.
