The Federal Government has revealed that discussions are underway to revive Nigeria’s long-abandoned textile factories and the Ajaokuta Steel Company as part of a broader plan to strengthen the country’s industrial sector and stimulate economic growth.
The Minister of State for Industry, Senator John Enoh, made the disclosure during an interview on Channels Television on Tuesday. He said the initiative aligns with President Bola Tinubu’s economic agenda and forms part of the implementation of the National Industrial Policy (NIP), which is designed to boost local manufacturing, attract investments and create employment opportunities.
According to Enoh, the government is committed to restoring key industries that once played significant roles in Nigeria’s economy, particularly the textile sector and the Ajaokuta Steel Company, both of which have remained largely inactive for years.
He explained that reviving these industries would help reduce dependence on imports, strengthen local production, improve value addition and enhance Nigeria’s competitiveness in the global manufacturing space.
The minister added that the National Industrial Policy provides a roadmap for transforming the country’s industrial landscape through strategic partnerships, improved infrastructure, increased private sector participation and policies that support sustainable industrial development.
The Federal Government believes that breathing new life into these industries will contribute significantly to job creation, economic diversification and the administration’s target of growing Nigeria into a $1 trillion economy.
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