Log In

Nigeria targets mining, automotive transformation for industrial revolution

Published 12 hours ago3 minute read

To accelerate Nigeria’s industrial revolution, the Director-General of the Nigeria-China Strategic Partnership (NCSP), Joseph Tegbe, met with Minister of State for Industry, Trade, and Investment, John Owan Enoh, to align on transformative priorities aimed at repositioning the economy through mining and automotive sectors.

The meeting, held in Abuja, explored actionable strategies to unlock the full industrial potential of both sectors within the framework of President Bola Ahmed Tinubu’s Renewed Hope Agenda with an overarching goal of transitioning Nigeria from an import-dependent economy to a production- and export-led powerhouse.

While receiving the DG, Enoh reaffirmed the Federal Government’s renewed commitment to three priority sectors —sugar, cotton-textile-garment (CTG) and automobiles — each backed by active industry councils to drive localised production, stimulate domestic demand and boost Nigeria’s global industrial competitiveness.

At the centre of this shift is the Nigeria First Policy, a presidential directive that mandates all ministries, departments and agencies (MDAs) to prioritise Nigerian-made goods and services in public procurement.

This policy is already restructuring supply chains, catalysing job creation and reducing overreliance on imports across key sectors. Tegbe emphasised that the Nigeria-China Strategic Partnership is committed to supporting this transformation, noting the country’s readiness to evolve from a consumption-driven economy into a strategic development partner – particularly with China.

Citing Brazil’s $94.41 billion export performance to China in 2024, he stressed Nigeria’s capacity to achieve similar milestones by focusing on high-impact sectors such as agriculture, solid minerals, and industrial manufacturing.

He highlighted the mining sector’s vast potential, with over 40 commercially viable minerals as critical enablers of industrial growth. Rather than continuing the raw export of mineral resources, he emphasized the need to build out local beneficiation, processing and refining capacity – an agenda supported by clear regulatory reforms and investment incentives.

The Industrial Revolution Working Groups (IRWG) – a flagship initiative of the Presidential Council on Industrial Revitalization – are already operational, working to resolve regulatory bottlenecks, improve access to infrastructure and financing and unlock sustainable growth across the mining value chain.

The automotive sector is receiving focused government attention, with policies in place to make Nigeria a regional hub for vehicle assembly and full-scale manufacturing.

The Nigeria First Policy has already begun to stimulate demand for domestically assembled vehicles while boosting investor confidence in the sector, the government said.

Speaking on Nigeria’s comprehensive strategic partnership with China, Tegbe shared updates on landmark agreements secured with major Chinese firms including Huawei, China Communications Construction Company (CCCC), Chilwee Group and Choice International Group (CIG).

The companies are bringing advanced technologies, skilled manpower and capital into Nigeria’s automotive, mining, manufacturing, communication and clean energy sectors – contributing directly to job creation, technology transfer and industrial innovation, he said.

Origin:
publisher logo
The Guardian Nigeria News - Nigeria and World News

Recommended Articles

Loading...

You may also like...