FG Launches Industrial Revolution Work Group to Revitalize Economy
By Patience Ikpeme
The Federal Government has taken a significant step towards industrial revitalization with the inauguration of the Industrial Revolution Work Group (IRWG).
Senator John Owan Eno, Minister of State for Industry, presided over the inauguration ceremony in Abuja on Thursday, emphasizing the group’s crucial role in driving economic development and supporting the Presidential Council on Industrial Revitalization Roadmap, approved in October 2023 and chaired by President Bola Ahmed Tinubu.
Senator Eno articulated the IRWG’s mandate as “Rejuvenating, Innovating, and Elevating Nigeria’s Industrial Future.” He stressed that the group will serve as a bridge between Nigeria’s current industrial state and its aspirations to become a leading industrial force. “We are blessed with vast natural resources, an industrious and youthful population, and an entrepreneurial spirit that is second to none. What we require now is a deliberate, structured, and results-oriented industrial roadmap,” he stated.
The Minister outlined the key areas upon which the IRWG will focus its efforts. First, the group will undertake the vital task of revitalizing dormant industries. This involves conducting a comprehensive audit of industries that once thrived but have since stagnated, followed by the development of tailored intervention strategies for their resurgence. Second, the IRWG will work to enhance the global competitiveness of Nigerian industries and expand access to export markets. This means positioning Nigerian businesses to compete effectively on the international stage, capitalizing on opportunities presented by the African Continental Free Trade Area (AfCFTA) and other global trade alliances.
Third, recognizing the critical importance of reliable infrastructure, robust logistics, and a stable power supply, the IRWG will collaborate with key stakeholders to systematically address these persistent challenges. Finally, acknowledging the transformative power of technology and innovation, the group will prioritize technology, innovation, and workforce development. Embracing the Fourth Industrial Revolution, Nigeria will focus on digital transformation, automation, and fostering a research-driven industrial ecosystem to secure its rightful place in the global economy.
Senator Eno emphasized the urgent need for Nigeria to transition from a consumer-based economy to one that is productive, innovative, and a leader in the industrial sector. He called for a collaborative effort from all stakeholders, including government bodies, private sector leaders, global investors, and entrepreneurs, recognizing the IRWG as a national imperative.
In his keynote address, Mr. Olusegun Aganga, former Minister of Industry, Trade, and Investment, acknowledged Nigeria’s long struggle with industrial stagnation. He stressed that the IRWG offers a unique and pragmatic approach to industrial policy-making, bringing together public and private sector stakeholders to address the challenges facing the manufacturing sector, revive dormant industries, and foster sustainable industrial growth.
Aganga highlighted the importance of industrialization for job creation, innovation, self-reliance, and economic resilience. He emphasized the need to transform Nigeria’s natural resources into value-added products for both local and global markets, ensuring that “Made-in-Nigeria” becomes a symbol of quality and ingenuity.
He tasked the IRWG with the immense responsibility of identifying, analyzing, and rehabilitating industries that once contributed significantly to Nigeria’s GDP but have since been neglected. He stressed that this is not just an economic necessity but a patriotic duty, noting the potential for job creation, infrastructure development, and food security through revitalized sectors like textiles, steel, and agro-processing.
Aganga underscored the vital role of the private sector in driving industrial transformation, highlighting the importance of the IRWG’s membership structure, which brings together government, private sector, and academia. He urged industry leaders to actively participate in the initiative, recognizing it as a national imperative.
He emphasized that success will be measured by tangible outcomes, such as reopened factories, created jobs, and increased economic prosperity. He outlined key elements for success, including clear execution strategies with measurable milestones, strict adherence to timelines and accountability frameworks, continuous engagement with local and international investors, and a shared commitment to the principles of industrial excellence.
