The Minister of State for Industry, Senator John Owan Enoh, has urged Nigeria to drastically reduce its reliance on imports and instead harness its large population for productive industrial activity, warning that population size alone does not translate to economic growth.
Speaking at the Redeemed Christian Church of God (RCCG), Lagos Province 35 Economic Summit on Saturday, the minister said the success of the federal government's Nigeria-First policy depends on policy predictability, coordinated execution and the strategic use of public procurement to stimulate local manufacturing.
Recall that President Bola Tinubu introduced the Nigeria-First policy in 2025 to prioritise Nigerian-made goods and services in government procurement.
"Nigeria does not need to import what we can produce. We can clothe ourselves," Owan said, explaining that discussions were ongoing between his ministry and the Bureau of Public Procurement (BPP) to ensure effective implementation of the policy.
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He noted that the engagement focuses on key sectors such as textiles and apparel, automotive manufacturing, medical equipment and furniture, adding that public procurement frameworks are being reviewed to drive local production.
According to the minister, government procurement remains a powerful but underutilised tool for industrial development, as predictable demand from government can attract private investment and accelerate domestic value-chain growth.
Drawing examples from other countries, Owan said nations like Bangladesh and Vietnam achieved industrial success not through perfect infrastructure but by building predictability, competitiveness and focused value chains.
"Bangladesh became a global garment leader because it created predictability and competitiveness. Vietnam followed a similar path and now exports electronics, garments and machinery," he said.
He further illustrated the potential of Nigeria's market using the automotive sector, noting that government patronage could incentivise global manufacturers to establish local production plants.
"If you tell a company like Toyota that unless it sets up plants in Nigeria, no government agency will buy its vehicles, it would make sense because the Nigerian market is critical to them," he said.
Owan said feedback from manufacturers across the country shows that businesses prioritise predictability over perfection.
"One manufacturer told me, 'I don't need everything to be perfect; I just need things to be predictable.' That captures what businesses need to invest, expand and create jobs," he said.
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He argued that stable policies encourage innovation, investment and industrial expansion, while uncertainty diverts resources away from growth.
"Predictability is the foundation of competitiveness. Without it, businesses spend more time coping with uncertainty than investing in growth," the minister said.
Owan added that the current administration's reforms are aimed at shifting Nigeria from a consumption-driven economy to a rule-based, production-oriented system built on stability and confidence.
He warned that Nigeria's youthful population could become a burden if industrial capacity is not expanded to absorb labour and generate sustainable employment.
"A large population only makes sense if it is productive. Otherwise, it becomes pressure, not potential," he said.
The minister said aligning industrial policy with procurement reforms would help cut import dependence, strengthen domestic manufacturing and ensure government spending supports local industries.
"We are aligning policy, procurement and production. That is how we convert demography into demand, demand into production, and production into jobs," he said.
He concluded by stressing that the reforms expected in 2026 must translate into job creation, stronger industries, increased trade and deeper investments.
