The Minister of State for Industry, Senator John Owan, has warned that Nigeria’s large population will not automatically translate into economic growth unless it is deliberately channelled into productive industrial activity, urging the country to urgently reduce its dependence on imports.
Owan made this known on Saturday while speaking at the Redeemed Christian Church of God Lagos Province 35 Economic Summit. He said the success of the Federal Government’s Nigeria-First policy would depend on policy predictability, coordinated execution, and the strategic use of public procurement to drive local manufacturing.
President Bola Tinubu announced the Nigeria-First policy in 2025, directing that Nigerian industries be given priority in all government procurement. According to Owan, effective implementation remains the key challenge.
“Nigeria does not need to import what we can produce locally. We can clothe ourselves,” he said, explaining that his ministry has begun engagements with the Bureau of Public Procurement to align procurement frameworks with industrial development across sectors such as textiles, automotive, medical equipment, and furniture.
The minister described public procurement as a powerful but underutilised tool, noting that predictable government demand could unlock private investment, strengthen domestic value chains, and accelerate industrial growth.
Drawing examples from countries like Bangladesh and Vietnam, Owan said their success was built on predictability, competitiveness, and focused value chains rather than perfect infrastructure. He argued that Nigeria could achieve similar results by leveraging its large market to compel local production, particularly in sectors like automobiles and apparel.
Owan said manufacturers consistently emphasise the need for le and predictable policies rather than perfection. “Entrepreneurs innovate only when rules are le, investors commit capital when policy direction is clear, and manufacturers expand when planning horizons are reliable,” he noted.
He stressed that Nigeria’s youthful population could become a liability if industrial capacity is not expanded rapidly enough to create jobs, adding that aligning industrial policy with procurement reform would reduce imports and strengthen local industries.
“We are aligning policy, procurement, and production. That is how we convert demography into demand, demand into production, and production into jobs,” the minister said.
I think focusing on harnessing the population for industrial growth is key, but cutting imports completely may not be feasible.
I disagree! Nigeria needs to focus on empowering local industries instead of solely relying on cutting imports. Population alone wont drive industrial growth.
I dont agree with the minister. Imports boost variety and competition. Population control should focus on education and healthcare, not industrial growth.
I disagree with the ministers stance on cutting imports. Embracing globalization can bring diverse products and boost the economy.
I think its unrealistic to expect Nigeria to solely rely on its population for industrial growth. Diversification is key for sustainable development.
Is population the key to industrial growth in Nigeria? Interesting perspective, but what about investing in infrastructure and ss development?
I disagree! We need imports for variety and competition. Harnessing the population is great, but not at the expense of imports.