The Minister of State for Industry, Senator John Owan, has called on Nigeria to urgently reduce its dependence on imports and redirect its large population toward productive industrial activities. Speaking at the Redeemed Christian Church of God (RCCG) Lagos Province 35 Economic Summit on Saturday, Owan stressed that population alone does not guarantee economic growth, and that deliberate planning and policy predictability are essential for national development.
“Nigeria does not need to import what we can produce ourselves. We can clothe ourselves, manufacture vehicles, and produce medical equipment locally. Our population is a resource, but it will only become an advantage if we engage it productively,” Owan said.
The minister explained that the success of the Federal Government’s Nigeria-First policy depends on coordinated policy implementation, predictable government actions, and the strategic use of public procurement to support local industries. Public procurement, he argued, is a powerful but often underutilised tool to stimulate industrial growth and attract private investment.
Owan described a recent engagement with the Bureau of Public Procurement (BPP), where discussions focused on sectors such as textiles and apparel, automotive, medical equipment, and furniture. “The BPP is now actively exploring how public procurement can be used to implement the Nigeria-First policy. This is an opportunity to create a predictable market for local manufacturers,” he said.
According to Owan, predictable demand from government and public agencies encourages private sector investment. He cited examples from other countries, explaining that Bangladesh became a global leader in textiles and Vietnam now exports electronics, garments, and machinery because they built competitive value chains supported by predictable policies.
“Investors and entrepreneurs innovate only when rules are stable. Manufacturers expand only when they can plan with certainty. Without predictability, businesses spend more resources coping with uncertainty than investing in growth,” he said.
Owan gave practical examples of how Nigeria could implement these ideas. He mentioned the automotive industry, where multinational companies like Toyota could be encouraged to establish production plants locally through procurement incentives. “Imagine if the government only bought vehicles from manufacturers with plants in Nigeria. That would make local production a priority and reduce import dependence,” he said.
The minister highlighted that Nigerian manufacturers have repeatedly emphasised the need for predictable policies. “One manufacturer told me very clearly: ‘I don’t need everything to be perfect; I just need things to be predictable.’ That is the foundation of competitiveness,” he added.
Owan argued that the current administration’s industrial and economic reforms aim to shift Nigeria away from discretionary, consumption-driven policies toward a production-oriented economy. “Our reforms are not about chasing perfection. They are about building stability, fairness, and confidence, which are the real foundations of a functioning economy,” he said.
He further explained that Nigeria’s youthful population could be a major economic advantage if industrial capacity is expanded fast enough to absorb labour. Otherwise, the large population could become a social and economic liability. “A large population only makes sense if it is productive. Otherwise, it becomes pressure, not potential,” he warned.
The minister said aligning industrial policy with procurement reform could help strengthen domestic manufacturing and reduce reliance on imports. “We are aligning policy, procurement, and production. That is how we convert demography into demand, demand into production, and production into jobs,” he explained.
Owan also underscored the potential of Nigeria’s textile and garment industry, pointing out that local production could meet domestic demand and even create export opportunities. “Imagine a Nigeria that produces its own clothing, medical equipment, and vehicles. That is the vision we are working toward,” he said.
The minister added that predictable policies encourage long-term investment, which is essential for building sustainable industries and creating jobs. “Entrepreneurs innovate when they are confident in the rules. Investors commit capital when the direction is clear. Manufacturers expand when planning horizons are reliable. That is what Nigeria needs,” he said.
Owan concluded by emphasising that the industrial reforms for 2026 must lead to measurable outcomes, including increased employment, stronger domestic industries, higher trade, and deeper investments. He urged stakeholders in the public and private sectors to work together to implement the Nigeria-First policy effectively.
The Nigeria-First policy, launched by President Bola Ahmed Tinubu, aims to prioritise local production and support domestic industries across strategic sectors. The policy seeks to reduce dependence on imports, stimulate local manufacturing, create jobs, and increase the value of government spending within Nigeria.
Public procurement plays a critical role in this policy by creating a predictable market for local goods and services. By ensuring that government contracts prioritize Nigerian products and manufacturers, the policy intends to provide incentives for businesses to expand production and invest in local capacity.