Chief Executive Officer (CEO), Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has asked the Federal Government to employ strategic protectionism in key sectors to drive Nigeria’s industrialisation agenda, stressing that history and global experience show that no country has ever achieved industrialisation through indiscriminate trade liberalisation.
Speaking through a policy brief, he noted that industrialisation was central to Nigeria’s long-term economic growth, job creation and national sovereignty, adding that a strategic protectionism approach would safeguard domestic and emerging industries while building competitiveness and self-sufficiency.
Pointing out that the recent 15 per cent import duty on refined petroleum products represented a positive policy proposition, he said that when complemented with broader industrial support measures, it could catalyse industrial expansion, conserve FX, create jobs and promote economic resilience.
Noting that Nigeria’s excessive dependence on imports over the past few decades had weakened its productive base, eroded competitiveness and exposed the economy to external shocks, he said sectors that enjoyed measured protection like cement, flour, and beverages, had all recorded remarkable domestic growth and value addition.
Pointing out that countries like China, South Korea, India, and Malaysia built their industrial strength through inward-looking strategies during their formative decades, he said they protected infant industries, promoted local content, and developed domestic value chains before gradually opening up to global competition.
He urged Nigeria to take a lead from these countries.
Making a case for strategic protectionism, he argued that shielding industries from premature exposure to unfair competition would encourage domestic investment, foster local value addition, and enable firms to achieve efficiency and scale before competing globally.
Pointing out that the sectors which received structured protection recorded transformative outcomes, he said a 15 per cent duty on refined petroleum products was modest, balanced and necessary to restore Nigeria’s refining capacity and fiscal resilience.
