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Govt eyes N3tr from buy Nigeria goods campaign - THE NATION
The Federal Government, yesterday, said it will roll out a nationwide ‘buy Nigeria goods campaign’ in few months’ time, with the target to rake in about N3 trillion into the economy in the short term, Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, made this known at a pre-summit briefing of the West Africa Industrialisation, Manufacturing & Trade (West Africa IMT) Summit & Exhibition 2025 in Lagos.
The Summit, themed: ‘Accelerating West Africa’s Sustainable Industrial Revolution for Economic Prosperity,’ will cover industrial policy, manufacturing competitiveness, regional trade, infrastructure, access to finance, and technology-driven growth.
Addressing newsmen, Enoh said the buy Nigeria goods campaign is aimed at reducing Nigeria’s heavy dependence on imported goods and boosting local production, and that the country will earn N3 trillion if the campaign is successful.
The Minister explained that the campaign is designed to change consumer behaviour, strengthen local industries and drive economic patriotism.
“The idea is to change attitudes, so that when you buy made-in-Nigeria goods, you are not just consuming, but also contributing directly to the country’s growth,” he said.
He said the campaign is a follow-up on the President Bola Ahmed Tinubu’s earlier pronouncement on Nigeria First policy and other existing policy efforts such as Executive Orders 3 and 5 on local content.
Enoh stressed the current administration’s determination to sustain the buy Nigeria campaign through policy consistency and nationwide sensitisation.
“With stability and consistency, we can achieve meaningful impact for the economy. This campaign and the Nigeria First policy will not just be about slogans, but practical solutions backed by government and private sector collaboration,” he stated.
The Minister stressed that while government will provide enabling policies, the private sector must drive the industrialisation process.
He also disclosed that government would soon unveil a new National Industrial Policy to replace the 2014 framework, noting that gaps in previous policies discouraged development partners.
Highlighting the significance of the Summit, Enoh said it would serve as a platform to address key challenges of industrial growth, including access to long-term financing, power sector reforms, manpower development, and regional trade integration.
“For too long, our progress has been tied to the export of raw materials. The time has come to unlock the full potential of our industries, scale our MSMEs, and harness our abundant resources,” he added.
Organisers of the summit, dmg Nigeria Events, also unveiled the agenda for the three-day event billed for October 21–23, 2025 at the Landmark Centre, Lagos.
Country Director and Portfolio Director – Energy for dmg Nigeria, Wemimo Oyelana, said the Summit will bring together policymakers, business leaders, investors and development partners to chart practical solutions for West Africa’s industrial future.
“We are at a defining moment as a region. The decisions we make around industrialisation, manufacturing and technology will shape our growth story for generations. This Summit is about accelerating an industrial revolution that is sustainable, inclusive, and impactful,” Oyelana stated.
The Executive Director, Coleman Cables and Wires, Michael Onafowokan, identified raw materials, manpower, machinery and equipment as the three pillars of industrial growth, urging Nigeria to shift from being a net exporter of raw materials and importer of finished goods.
He noted that for the first time in years, manufacturers feel heard by the Ministry of Industry, adding: “Industrial revolution is a process. We won’t solve the problems in one day, but with constant dialogue and cooperation between government and the private sector, we can begin to address them.”
On his part, Chairman, Dorman Long Engineering, Dr. Timi Austen-Peters, representing a multinational engineering firm, underscored the need for policy consistency.
He cited past experiences where sudden government policy reversals nearly drove companies to bankruptcy after investing millions of dollars in equipment.
He argued that like in the oil and gas sector where local content rules helped Nigerian firms become competitive, manufacturing also requires deliberate policies to give local players a fair chance.
“If we are given a level playing field, we will deliver more in support of government, commercial partners and the Nigerian economy,” he said.
Also speaking, Chief Commercial Officer, Matta, Zainab Omonaiye, highlighted the importance of data, transparency and technology in solving manufacturing challenges.
She explained how opacity in sourcing raw materials forces manufacturers to import what is available locally.
She urged stakeholders to adopt technology platforms for supply chain transparency, financing and verification of raw materials, saying: “Many conferences end without key performance indicators. This summit must commit stakeholders to measurable actions.”
