By Atoyebi Nike
The Federal Government has set a target to raise Nigeria’s industrial contribution to Gross Domestic Product (GDP) from 10 per cent to 25 per cent by 2035.
Minister of State for Industry, Senator John Owan, announced this at the Gastech Conference in Milan, describing the newly validated framework as a major policy shift under President Bola Tinubu.
Owan said the plan would move Nigeria from a resource-based economy to a productive and competitive one, noting Tinubu’s reforms fuel subsidy removal and exchange rate unification had already stabilised the economy.
He also highlighted Tinubu’s push for Compressed Natural Gas (CNG) to power industries and boost growth.
On energy, NNPC Limited’s Executive Vice President, Olalekan Ogunleye, stressed that Nigeria’s 210.5 trillion cubic feet of gas must be fully developed. He said projects like Train 7 LNG expansion and the African Atlantic Gas Pipeline would strengthen Nigeria’s role as a global and regional gas supplier.
Ogunleye urged investors to seize opportunities, describing Nigeria as “ready for business.”
