The Minister of State for Industry, Senator John Owan, has stated that Nigeria must urgently reduce import dependence and channel its large population into productive industrial activity.
Speaking at the Redeemed Christian Church of God Lagos Province 35 Economic Summit on Saturday, Owan stressed that the success of President Bola Tinubu’s Nigeria-First policy hinges on policy predictability, coordinated execution, and using public procurement to boost local manufacturing.
“Nigeria does not need to import what we can. We can clothe ourselves,” Owan said. He revealed ongoing engagements between his ministry and the Bureau of Public Procurement to implement the policy, focusing on sectors like textiles, apparel, automotive, medical equipment, and furniture.
According to the minister, public procurement is an underutilised tool for industrial development. “Predictable government demand can unlock private investment and accelerate domestic value-chain development,” he noted.
Citing examples from Bangladesh and Vietnam, Owan said Nigeria’s population will only be an asset if it becomes productive. “A large population only makes sense if it is productive. Otherwise, it becomes pressure, not potential,” he warned.
He shared feedback from manufacturers, quoting one who said, “I don’t need everything to be perfect; I just need things to be predictable.” Owan argued that predictability is the foundation of competitiveness and investment.
The minister said current reforms aim to shift Nigeria from consumption-driven policies to a rule-based, production-oriented economy. “Our reforms are not about chasing perfection. They are about building stability, fairness, and confidence,” he stated.
Aligning industrial policy with procurement reform, he added, would reduce import dependence, strengthen local manufacturing, and ensure government spending supports domestic industries.
Owan concluded by emphasizing that 2026 reforms must lead to more jobs, stronger industries, increased trade, and deeper investments.
