Nigeria Targets 25% Industrial Growth by 2035, Says Minister
The Federal Government has unveiled an ambitious plan to boost Nigeria’s industrial sector, projecting a 25 per cent contribution to the country’s Gross Domestic Product (GDP) by 2035 under a newly validated strategic framework.
Minister of State for Industry, Senator John Owan, announced the target during a panel session at the ongoing Gastech Exhibition and Conference in Milan, Italy.
The session, themed “Powering Growth and Prosperity in High Potential Economies Through Widened Access to Affordable, Reliable and Flexible Energy”, brought together policymakers, industry leaders and global investors to discuss strategies for sustainable growth in emerging economies.
Owan described the framework as a major milestone in the nation’s economic transformation agenda, noting that it aligns with President Bola Tinubu’s Renewed Hope vision for industrialisation and job creation.
“This framework marks a turning point in Nigeria’s industrial policy. It is one of the most profound achievements of the Tinubu administration, designed to strengthen local manufacturing, attract investment, and expand energy access critical to powering industries,” he said.
According to him, the strategy emphasises the integration of affordable energy solutions, modern infrastructure, and technology adoption as the backbone of industrial expansion. He added that the government is also prioritising value addition in key sectors such as oil and gas, agriculture, solid minerals, and digital economy to diversify exports and reduce dependence on raw commodity sales.
The minister further noted that achieving the 25 per cent growth target would require strong partnerships with the private sector and international investors, alongside reforms to improve ease of doing business, enhance skills development, and promote innovation-driven enterprises.
Industry experts at the event commended Nigeria’s roadmap, stressing that with its youthful population, vast natural resources, and expanding market, the country is well-positioned to become a leading industrial hub in Africa over the next decade.
