Manufacturers and other private sector stakeholders have called for a data-driven implementation of Nigeria’s new industrial policy, insisting that measurable outcomes, transparency and accountability would determine whether the country’s most ambitious industrial blueprint translates into sustained economic growth and industrial transformation.

The position was canvassed at a panel during the recently-concluded NECA Employers’ Summit, where industry leaders argued that execution, rather than policy pronouncements, should become the benchmark for assessing the success of the government’s industrial agenda.

The renewed push comes at a time when stakeholders are evaluating the impact of ongoing economic reforms on the manufacturing sector, which continues to grapple with high production costs, foreign exchange volatility, energy shortages, weak infrastructure and rising logistics expenses. Industry leaders maintained that the new industrial policy offers a rare opportunity to reposition the sector by strengthening local production, expanding value addition and reducing reliance on imports, provided implementation is driven by reliable data and continuous performance monitoring.

Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, described the policy as the most comprehensive industrial framework Nigeria has produced since independence.
“This is the most comprehensive industrial policy we’ve ever had since independence,” he said. “It clearly outlines the areas we need to focus upon to transform our industrial landscape.”
 
Ajayi-Kadir disclosed that a public scorecard assessing implementation of the policy is expected soon, noting that periodic reviews would enable stakeholders to evaluate progress and ensure commitments are translated into tangible outcomes.
  
Vice President, Corporate and Government Relations at Olam, Ade Adefeko, said Nigeria must accelerate the transition from exporting raw commodities to processing them locally if it hopes to unlock greater economic value from its agricultural resources.
“We’ve been moving arithmetically in terms of production and value addition rather than geometrically. What doesn’t get measured doesn’t get done,” he said.
 
Adefeko stressed that the industrial policy should be backed by clearly defined performance indicators capable of measuring progress across priority sectors, adding that data-driven decision-making would help improve productivity, attract investment and strengthen competitiveness.

Providing evidence of early progress, Director of Corporate Affairs at TGI Group, Sadiq Kassim, revealed that Nigeria exported N10 billion worth of shea butter and N53 billion worth of soya meal in the first quarter of 2026, describing the figures as an indication that the policy’s emphasis on domestic processing and value addition is beginning to yield results.
According to him, the government’s clear policy direction has boosted investors’ confidence in local manufacturing and backward integration.

“Members involved in shea processing now have a definite government pronouncement. They have invested, they are moving forward,” Kassim said.

“The policy is giving us the confidence to invest backwards rather than importing finished products,” he added.

Reaffirming TGI Group’s commitment to backward integration and local manufacturing, Kassim advocated the creation of a publicly accessible implementation dashboard with binding timelines to track progress and strengthen accountability.

“What doesn’t get measured doesn’t get done. We need to track progress and hold government accountable,” he said.

Although the industrial policy is barely three months old, Kassim expressed optimism that early gains could be consolidated through sustained implementation.

“The policy is still early, but we already see early wins. If we maintain this momentum, with consistent data, inter-agency coordination and private sector buy-in, Nigeria can finally break the commodity trap and become a true industrial powerhouse,” he said.

The panellists agreed that while the industrial policy provides a solid framework for expanding Nigeria’s industrial base, achieving its objectives will depend on effective execution, stronger coordination among ministries, departments and agencies, and institutional mechanisms for monitoring implementation.

They also called for structured quarterly engagements between government and the organised private sector to review implementation milestones, address emerging challenges and ensure the policy delivers measurable benefits to manufacturers, investors and the wider economy.