The Federal Government of Nigeria plans to invest up to five percent of the country’s Gross Domestic Product every year to fund industrial development and grow large-scale production.

The plan is contained in the Nigeria Industrial Plan, which was launched in Abuja last week.

A key part of the policy is massive financing for industry. Government plans to recapitalise the Bank of Industry to ₦3 trillion by 2026 and expand intervention funds managed through the Central Bank of Nigeria to support priority sectors.

The policy was launched by the Federal Ministry of Industry, Trade and Investment and brings together fiscal, trade, export and industrial policies into one national framework.

It targets major growth in production and jobs. Manufacturing is expected to contribute 15 percent to GDP by 2030 and 25 percent by 2035, while mining is projected to reach 10 percent by 2035.

Four sectors have been given priority: solid minerals, oil and gas, construction and manufacturing.

The policy also introduces new tax incentives tied to job creation and production, as well as special funding support for small and medium businesses.

Vice President Kashim Shettima said industrial growth will depend on strong cooperation between government and the private sector.

He said industrialisation requires coordination across energy, infrastructure, finance, skills and innovation.

The policy also focuses on technology, renewable energy and skills development, with plans to strengthen technical training and digital manufacturing.

Government said the policy will help position Nigeria as a major manufacturing and export hub under the African Continental Free Trade Area, reduce import dependence and create jobs.

Officials say the plan will be implemented from 2025 to 2030, with clear targets for production growth, investment and employment.