Manufacturers and players in the organised private sector (OPS) have called on the Federal Government to revamp the country’s infrastructure, provide a stable regulatory environment and create industrial parks.

They stated these during the 16th National Council on Industry, Trade and Investment (NCITI), which concluded in Lagos, yesterday. The meeting brought together players from the manufacturing, public and leading private sector innovators to chart a path for economic diversification through industrial growth, trade efficiency and sustainable investments.

The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, stressed that the theme for this year’s Council, ‘Accelerating Diversification to Rebuild Prosperity by Leveraging Industry, Trade, and Investment’, is timely. She noted that the economy has, for too long, over-reliant on a single commodity, making it vulnerable to global shocks and external volatility.

This, she said, has increased inflationary pressure, unemployment, sluggish industrial growth and limited resilience in the face of crisis.
Stressing the urgent need to address bottlenecks in Nigeria’s manufacturing sector, the OPS said without fixing the core issues industrialists are currently battling, driving inclusive growth will remain a mirage.

Oduwole noted that the government is laying the groundwork for a diversified economy via the implementation of the Nigerian Investment Policy and the National Talent Export Programme (NATEP) to position Nigeria as a global hub for service exports.

The minister emphasized that economic transformation must be locally driven, urging states to identify and capitalise on their unique strengths.

“From agro-processing in Cross River to leather in Kano and tech in Lagos and Benue, each state must own its comparative advantage and develop bankable projects around it,” she stated.

She noted that this aligns with their broader theme of leveraging industry, trade and investment to rebuild prosperity and stressed the need for actionable commitments, transparent progress tracking and inclusive policies that prioritise women, youth and underserved communities.

She challenged the OPS to move beyond discussions to tangible implementation.

“The choices we make today will reverberate far beyond these walls. Let us choose ambition, collaboration and a more resilient and inclusive Nigerian economy,” she said.