Nigeria has unveiled a bold plan to raise its industrial sector’s contribution to Gross Domestic Product (GDP) from the current 10 percent to 25 percent by 2035, under a newly validated strategic industrial framework.
The disclosure was made by the Minister of State for Industry, Senator John Owan Enoh, during a high-level panel session at the Gastech Exhibition and Conference in Milan, Italy, one of the world’s largest energy and industrial gatherings.
Themed “Powering Growth and Prosperity in High-Potential Economies Through Widened Access to Affordable, Reliable and Flexible Energy”, the session attracted global policymakers, investors, and industry leaders eager to explore Africa’s industrial and energy future.
According to Senator Owan, the framework represents a historic shift in Nigeria’s development model.
For decades, Nigeria has relied heavily on crude oil exports as the backbone of its economy, but this initiative marks a move toward a productive, competitive, and innovation-driven economy.
“For the first time in decades, Nigeria has a strategic industrial framework. We are determined to grow our economy,” Owan said.
He explained that the industrial sector currently contributes about 10 percent to Nigeria’s GDP, with plans to more than double that figure within the next decade.
He described the framework as one of the most significant policy achievements of the Bola Tinubu administration, positioning Nigeria as a key driver of Africa’s industrialization.
Owan emphasized that President Tinubu has been a strong advocate for Compressed Natural Gas (CNG) and gas-based industries as drivers of economic expansion.
He noted that Nigeria, often described as “more of a gas country than an oil country,” holds over 210.5 trillion cubic feet of proven gas reserves, a resource that can power industries, attract investment, and create jobs.
“The global community should engage with Nigeria and Africa due to the continent’s readiness for transformation,” Owan urged.
He further acknowledged that infrastructure gaps and persistent gas flaring remain challenges but stressed that international partnerships would play a critical role in achieving energy sufficiency and industrial development.
Also speaking at the event, Mr. Olalekan Ogunleye, Executive Vice President, Gas, Power and New Energy at the Nigerian National Petroleum Company Limited (NNPCL), reinforced the government’s commitment to using gas as a catalyst for growth.
“Nigeria has over 210.5 trillion cubic feet of gas. We must optimize its development,” he said, adding that NNPC is currently revising the national gas master plan to position the country as a sustainable global supplier.
Key initiatives include the Train 7 LNG expansion project, which is expected to boost gas output by 30 percent, alongside potential expansions for Train 8 and Train 9.
Ogunleye also highlighted the African Atlantic Gas Pipeline project, being developed in partnership with Morocco, which aims to connect 16 African economies, strengthen regional integration, and cement Nigeria’s status as a dependable energy supplier.
Domestically, he noted that NNPC has been supporting gas-based industries to stimulate local manufacturing, generate employment, and attract new foreign investment.
He pointed to renewed interest from international companies in Nigeria’s deep-water gas developments, describing the current environment as “the best time to invest in Nigeria.”
The minister lauded President Tinubu’s reform agenda, citing landmark decisions such as the removal of fuel subsidies and the unification of exchange rates.
These measures, he said, have stabilized the economy and improved foreign exchange availability for businesses.
“President Tinubu’s decisive reforms are creating an enabling environment for investors. Nigeria is open and ready for business,” Owan declared.
He stressed that the youthful population and expanding consumer market provide unique opportunities for industrial growth, particularly in manufacturing, agro-processing, energy, and technology-driven sectors.
Economic analysts view the 25 percent GDP industrial growth target as ambitious but achievable if sustained reforms continue.
According to Dr. Adeolu Ajayi, an economist at the University of Lagos, industrial growth in Nigeria has historically been stunted by poor infrastructure, erratic power supply, and policy inconsistencies.
“However, if Nigeria can effectively harness its gas resources, close infrastructure gaps, and maintain investor-friendly reforms, the 25 percent target is within reach,” Ajayi said.
He added that attracting public-private partnerships (PPPs) and fostering regional trade under the African Continental Free Trade Agreement (AfCFTA) will be key to achieving the goal.
The Gastech Exhibition and Conference provided Nigeria with a platform to pitch its economic reforms and industrial ambitions to global investors.
As one of the largest annual industry gatherings, Gastech brings together government officials, financiers, and business leaders to discuss sustainable solutions for energy and industrial development.
By participating in such global platforms, Nigeria is not only showcasing its reforms but also strengthening its credibility as an investment destination.
With the newly validated strategic framework, Nigeria is charting a transformational path toward industrial expansion.
The government’s target to raise industrial contribution to GDP from 10 percent to 25 percent by 2035 reflects a determination to build a diversified and resilient economy.
Backed by vast gas reserves, reform-driven leadership, and international partnerships, the country is positioning itself as a central hub for Africa’s industrial and energy future.
For global investors and partners, the message is clear: Nigeria is ready, open, and prepared for business.