• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

Nigerian Government Promises Support, Incentives to Local Manufacturers

Olusola Blessing by Olusola Blessing
February 17, 2025
in Business, News
0
Nigerian Government Promises Support, Incentives to Local Manufacturers
Share

The Nigerian government has reaffirmed its commitment to reviving the country’s struggling industrial sector, promising to tackle key challenges hindering growth and job creation. Minister of State for Industry, Trade, and Investment, Senator John Owan Enoh, made this pledge during a tour of major industrial hubs in Lagos and Ogun states, where he engaged with business leaders and factory operators.  

The minister visited several manufacturing companies, including Sunflag Nigeria Limited, GB Foods Nigeria, Berger Paints Plc, FrieslandCampina WAMCO, Mojec Group, Coleman Cables, Mikano Industries, and others. Speaking at Sunflag Nigeria Limited, he acknowledged the decline of Nigeria’s textile industry and its impact on employment, assuring manufacturers of renewed government support.  

To address these concerns, Enoh announced plans to convene a stakeholder session for the Cotton Textile Garments (CTG) sector and establish the Industrial Revolution Work Group (IRWG). This group, which will include representatives from the Manufacturers Association of Nigeria (MAN) and other key sectors, aims to facilitate dialogue between the government and industries to identify and resolve major bottlenecks.   

The minister emphasized the government’s commitment to promoting locally made goods, noting that Tinubu’s administration is determined to make Nigeria an attractive destination for manufacturing investment. He highlighted ongoing efforts to create incentives that would ease the cost of doing business and encourage industrial expansion.  

“We commend the resilience of these companies for continuing to invest in Nigeria despite economic challenges. The goal of this administration is to ease these difficulties and ensure industries thrive,” Enoh stated.  

Among his key priorities, the minister listed the Nigeria Automotive Industry Development Plan (NAIDP), the Special Agro-Processing Zones (SAPZ), the revitalization of the textile industry, and the development of the petrochemical and pharmaceutical manufacturing sectors.  

During his visit to Ogun State, Enoh met with Governor Dapo Abiodun, who unveiled ambitious plans to establish West Africa’s largest cotton and apparel industry. The project, set to employ up to 40,000 people, will be housed within a Special Processing Zone designed to attract investors and boost industrial output.  

Governor Abiodun also shared insights from his recent trip to Morocco, where the country’s investor-friendly policies have positioned it as a hub for aircraft parts manufacturing. He emphasized that Nigeria could learn from this model to strengthen its own industrial base.  

Recognizing Ogun State’s role as Nigeria’s main industrial hub, Enoh praised the state’s commitment to manufacturing growth. He assured business leaders that the federal government is aware of the constraints industries face but remains optimistic about Nigeria’s industrial potential.  

“There are undeniable challenges, but there are also immense opportunities. By working together with industries and the private sector, we will unlock the full potential of Nigeria’s manufacturing sector,” Enoh concluded.  

With the government’s renewed focus on industrial development, manufacturers are hopeful that long-standing challenges—ranging from infrastructure deficits to policy inconsistencies—will be addressed to create a more competitive business environment.

 

Post Views: 54
Share

Related Posts:

  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2024 Guide to the Top Business Enabling…
  • Africa must prepare for the inevitability of a global food crisis - Akinwumi Adesina
    Overcoming Binding Constraints to Competitive…
  • David Wright, Managing Director of CAP
    CAP Plc set to Merge with Portland Paints and Products Plc.
  • images (29)
    Ogun State commissions First Fibre Optic Cable…
  • #IWD2023: Celebrating Outstanding Women in Micro Small and Medium Enterprises
    #IWD2023: Celebrating Outstanding Women in Micro…
Tags: Industrial Revolution Work Group (IRWG)MANNAIDP
Previous Post

Fueling Success: A Busy MSME’s Journey to Healthy Eating; 7 Nutritional and Meal Planning Tips for Busy MSMEs

Next Post

CREDICORP Launches N20 Billion Automobile Credit Fund to Boost Local Vehicle Ownership in Nigeria

Next Post
CREDICORP Launches N20 Billion Automobile Credit Fund to Boost Local Vehicle Ownership in Nigeria

CREDICORP Launches N20 Billion Automobile Credit Fund to Boost Local Vehicle Ownership in Nigeria

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • Call for Applications:2025 Meaningful Business 100 Program
  • Call for Applications: Young Innovators Accelerator 2025
  • The Fashion Games 2025: Fashion Future Program Graduates 2,000 Youths in a Dazzling Showcase of Creativity and African Excellence
  • Nigeria exits IMF Debtor List
  • HortiNigeria Trains 70,000 Farmers, Mobilises £4 Millon for Horticulture Growth

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2024
  • Otabor Osayomore Blessing on Ultimate 2024 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.