Industrialisation - NEWS AGENCY OF NIGERIA

Folashade Adeniran
Jul, Thu, 2025

Minister endorses West Africa Industrial Summit to drive regional economic growth

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By Taiye Olayemi

The Federal Ministry of Industry, Trade and Investment has formally endorsed the 2025 West Africa Industrialisation, Manufacturing, and Trade (IMT) Summit and Exhibition.

Sen. John Enoh, Minister of State for Industry, Trade, and Investment, affirmed Nigeria’s commitment to regional industrial and trade advancement in a statement in Lagos on Monday.

The endorsement signals strong governmental backing for the Summit, scheduled for Oct. 21 to Oct. 23 at the Landmark Centre, Lagos.

The theme of the IMT Summit is “Accelerating West Africa’s Sustainable Industrial Revolution for Economic Prosperity”.

It aims to convene key stakeholders from across the region, including policymakers, industrial leaders, investors, and development institutions, to chart practical strategies for industrial growth.

Enoh stated the ministry was pleased to collaborate with dmg Nigeria events, the organisers of the Summit.

He said, “The ministry formally endorses and consents to collaborate with dmg Nigeria events in the successful organisation of the West Africa Industrialisation, Manufacturing and Trade Summit and Exhibition 2025.

“The ministry commends dmg Nigeria events’ efforts in promoting industrial, manufacturing and trade development across the West African Region and looks forward to a successful partnership in delivering a high-impact Summit.”

Wemimo Oyelana, Country Director, Nigeria and Portfolio Director, Energy for dmg Nigeria events, also siad, “As we witness Africa’s rising in global manufacturing and trade, the endorsement from the Ministry of Industry, Trade, and Investment marks the beginning of the transformation required for real economic development and growth.”

According to him, this is a strong validation of the strategic importance of the maiden edition of the West African IMT Summit and Exhibition.

Oyelana added, “It reinforces our shared commitment to accelerating industrial development, strengthening local manufacturing, increasing regional and international trade, and driving investment into the region.”

West Africa IMT 2025 operates as an implementation platform where policy briefings, cross-border investment showcases, and technical panels address infrastructure gaps, regulatory alignment, and industrial capacity building.

This approach moves beyond conceptual discussion toward actionable regional industrial development strategies.

As Ghana and Senegal demonstrate measurable progress in manufacturing output and policy implementation, the summit provides infrastructure for scaling these approaches across West Africa’s broader industrial landscape. (NAN) (www.nannews.ng)

Edited by Olawunmi Ashafa

Zimbabwe advances knowledge-driven industrialisation with strategic China partnership

Philip Daniel Yatai
Jun, Tue, 2025

Foreign

Zimbabwe advances knowledge-driven industrialisation with strategic China partnership

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Zimbabwe has called on Chinese investors and partners aligned with China’s global development vision to help accelerate its transition to a knowledge-based, resource-driven industrial economy.

Prof. Amon Murwira, the country’s Minister of Foreign Affairs and International Trade, outlined the policy shift, according to a report by The Herald, a partner of TV BRICS.

“Zimbabwe is open for business. Under this transformative vision, we are ready to engage and foster robust socio-economic partnerships with the People’s Republic of China,” Murwira said.

The Zimbabwean foreign minister reaffirmed the strong diplomatic and economic ties between Zimbabwe and China, which have been elevated to “five-star ironclad” status, signifying a deepened strategic alliance and shared development objectives.

This elevation follows the consensus reached between President Emmerson Mnangagwa and President Xi Jinping during their meeting in September 2024.

To facilitate deeper economic cooperation, Murwira highlighted several bilateral frameworks already in place.

These include a Bilateral Investment Promotion and Protection Agreement and Memoranda of Understanding on economic development cooperation, trade facilitation, and investment coordination.

These instruments aim to improve regulatory clarity, streamline procedures, and enhance investor confidence.

Officials also detailed plans to establish a vertically integrated industrial cluster that includes coal mining, power generation, and steel production.

The goal is to create the largest and most advanced metallurgical hub in Africa. (TV BRICS/NAN)

Edited by Emmanuel Yashim

FG reaffirms commitment to Nigeria’s industrial transformation, economic growth

Philip Daniel Yatai
Feb, Sun, 2025

Economy/Business

FG reaffirms commitment to Nigeria’s industrial transformation, economic growth

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By Lucy Ogalue

The Federal Government has reaffirmed its commitment to driving industrial transformation for a prosperous Nigeria, with policies focused on accelerating industrialisation, boosting manufacturing, and leveraging digital technology.

Sen. John Enoh, Minister of State for Industry, said this while speaking on the Federal Government’s economic agenda, at the Renewed Hope Global Virtual Town Hall Conference 2025.

Enoh emphasised the Renewed Hope Administration’s eight-point agenda, particularly the seventh pillar, which prioritised industrial growth through a digital economy, manufacturing, and innovative technology.

According to the minister, the administration has established targeted funding mechanisms to support key industries, such as the N50 billion in grants for small-scale entrepreneurs.

He said that there was N75 billion for Micro, Small, and Medium Enterprises (MSMEs), which accounted for nearly 40 million businesses in Nigeria.

“There is another N75 billion for manufacturing to boost local production.

“These funds, administered by the Bank of Industry (BOI), aim to foster growth in spite of economic challenges such as high interest rates and production costs,” he said.

The minister also highlighted existing policies designed to stimulate industrial development.

” These include the Backward Integration Programme (BIP) to enhance local capacity in sectors like sugar production and the National Automotive Design and Development Council (NADDC) Policy, aimed at local vehicle assembly.

“There is also the Cotton, Textile, and Garment (CTG) Policy, targeting textile industry revival among others,” he said.

In spite of these policies, Enoh said that past challenges had hindered effective implementation.

He said the President Bola Tinubu’s administration was committed to actualising these policies, ensuring that Nigeria remained globally competitive in industry, technology, and innovation.

“We can not continue to rely on exporting raw materials. We must invest in processing and manufacturing to create jobs, boost value addition, and attract foreign direct investments,” he said.

The minister assured Nigerians that the administration was working diligently to ensure that economic policies translated into measurable progress, positioning the country for sustained industrial growth and economic transformation.(NAN)

Edited by Kadiri Abdulrahman