The Federal Government will allocate up to five per cent of Nigeria’s Gross Domestic Product (GDP) to industrial financing under the newly unveiled Nigeria Industrial Policy (NIP) 2025.
The policy, released by the Federal Ministry of Industry, Trade and Investment, aims to reposition the economy toward large-scale production, stronger exports, and mass job creation through public–private partnerships.
According to the policy document, sustainable funding is central to successful industrialisation.
To that end, the government plans to recapitalise the Bank of Industry (BoI) to N3 trillion by 2026 and expand sector-specific intervention funds to the same level. These funds, some managed in collaboration with the Central Bank of Nigeria, are expected to provide long-term financing to priority industries.
The framework also introduces credit guarantees for MSMEs, interest-drawback schemes, and equity-based financing models to widen access to capital.
By earmarking up to five per cent of GDP for industrial financing, the government says it is matching policy ambition with financial backing.
President Bola Tinubu last week formally launched the Nigeria Industrial Policy 2025 and directed ministries, departments, and agencies to ensure swift implementation.
The policy seeks to revive dormant factories, strengthen domestic manufacturing, and position Nigeria as a competitive industrial hub.
It consolidates fiscal, monetary, trade, and investment measures into a unified strategy aligned with the administration’s “Renewed Hope” agenda.
Among its core objectives, the policy aims to:
- Boost manufacturing’s contribution to GDP to 20–25 per cent by 2030
- Promote local content through a “Nigeria First” procurement approach
- Reduce reliance on imported raw materials
- Expand value addition across key sectors
Officials say the structured implementation plan includes defined timelines, institutional responsibilities, and measurable performance benchmarks.
If successfully executed, the NIP 2025 is expected to accelerate industrial expansion, deepen economic diversification, and drive large-scale employment growth.
