The Minister of State for Industry, Senator John Owan, has said that Nigeria must urgently reduce its dependence on imports and deliberately channel its large population into productive industrial activity, warning that demography alone would not guarantee economic growth.
Speaking on Saturday at the Redeemed Christian Church of God (RCCG) Lagos Province 35 Economic Summit, Owan stressed that the success of the federal government’s Nigeria-First policy would depend largely on policy predictability, coordinated execution, and the strategic use of public procurement to stimulate local manufacturing.
Recall that President Bola Tinubu had announced the Nigeria-First policy in 2025 to give priority to Nigerian industries in all procurement activities.
According to Owan, “Nigeria does not need to import what we can produce. We can clothe ourselves Saturday, before leaving Abuja, I was in a meeting with the BPP DG. What was that meeting about? Mr President announced a Nigeria-First policy. Now, the challenge is to get it to work. What’s the best way to implement and execute such a policy? The Ministry of Industry and Development is key.
“So, an engagement has begun between the Ministry, between our office and the Bureau of Public Procurement, which is concerned with about five or six sectors, including textile and apparel, including the automotive sector, including medical equipment, including furniture, and all of that. What the Bureau wants to do is determine how to implement this through the public procurement framework that is put in place. And I think that the opportunities are coming,” he said.
The minister stated that public procurement represented a powerful but underutilised tool for industrial development, noting that predictable government demand could unlock private investment and accelerate domestic value-chain development.
He cited the examples of other countries: “Bangladesh became a global market, organic leader, not because of that perfect infrastructure, but because it built predictability, level competitiveness, and focused value chains.
“I mean, Vietnam followed a similar model and now exports electronics, garments, and machinery to the world. I often give the example that a huge population as a country will only make sense if we can become a bit more inclusive.
“Imagine what it would be like to be self-sufficient in terms of our clothing. Imagine that we didn’t have to import everything related to our clothing. I mean, I mentioned the automotive sector, and I say that every day we have a very important council meeting.
“When we close, it’s like an international motor fair for Toyota. Yet, if you gave Toyota one or two years and say, ‘Toyota, unless you establish plants in our country, no government, department, or agency would buy Toyota.’ It would make sense, because the Nigerian market remains key to Toyota.”
The minister noted that during his engagements with manufacturers across the country, a recurring message has emerged from the private sector.
“One manufacturer told me very clearly: ‘I don’t need everything to be perfect; I just need things to be predictable. That statement captures the essence of what businesses require to invest, expand, and create jobs,” he said.
He argued that entrepreneurs innovated only when rules were stable, investors committed capital only when policy direction was clear, and manufacturers expanded only when planning horizons were reliable.
“Predictability is the foundation of competitiveness. Without it, businesses spend more resources coping with uncertainty than investing in growth,” he said.
Sunday Ehigiator
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