NIGERIA’s current landscape is dominated by partisan politics and superficial governance. Policies are crafted and launched with pomp and pageantry, backed by hefty budgets and media blitzes. The narrative is carefully curated, with people encouraged to sing praises, and successes are loudly proclaimed. However, these initiatives often lack substance and eventually fizzle out, leaving little tangible impact.
I watched the launch of Nigeria’s industrial policy on Tuesday, Feb 17, 2026, and honestly, wasn’t surprised. I know how government is run in Nigeria. We like to put our cart before the horse, and that is why serious nations laugh at us.
This propaganda governance won’t get us far. Countries thrive by leveraging their strengths, but we are failing. We have got vast arable land, yet we import most of our food. Government talks big on agri-finance, but it is just lip service. We produce crude oil, but used to imported refined products till Dangote stepped in. Oil revenue is lining private pockets instead of driving growth. Feeding citizens, good governance, security of lives and property and steady democracy come before industrialisation. Propaganda won’t drive development.
How can we industrialise when we can’t even sort out power challenge? The Federal Government is even tinkering with the idea of switching to the use of solar energy for the State House. The whole thing is a joke. Industrialisation’s not just about fancy document.
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I’m certain this effort isn’t new. Under President Goodluck Jonathan, Minister Segun Aganga rolled out a similar industrial policy framework that ended up in the archive of abandoned visions.
This new launch will likely suffer the same fate because we are ruled by unserious, deceitful leaders. We are great at dramatising visions, generating applause, and switching off.
A nation desiring to industrialise needs to first sort out some basics. Over 700 manufacturing companies shut down or became distressed in 2023 due to a tough business environment, forex scarcity, high energy costs, and insecurity, according to the Manufacturers Association of Nigeria (MAN).
Since then, more companies have closed, and the sector is struggling, with capacity utilisation dropping due to raw material import issues and rising costs.
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Insecurity is killing industrialisation. In the North-East, it has forced 60% of manufacturers to shut down. The president’s investor roadshows are not working because the world knows about Nigeria’s security issues. Investors are not dumb; they do their research.
The forex shortage and naira devaluation are making it tough for manufacturers to import raw materials and machinery. Add to that, poor roads, high transport costs, and port delays are killing operations. And with the national grid failing, manufacturers are shelling out billions for alternative energy sources like diesel and gas. It is a mess!
Accessing capital is a struggle, with high interest rates squeezing businesses dry. Inflation is also killing demand, leaving manufacturers with heaps of unsold goods. A true industrial policy must look at the challenges holistically, not just political jamboree that is meant to hoodwink Nigerians to think that government is on the right track.
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The power Generation Companies (GenCos) are on life support due to over ₦6-trillion-naira unpaid invoices for power supplied to national grid.
This crippling debt, driven by weak remittances, tariff shortfalls, and forex volatility, severely limits GenCos’ ability to maintain infrastructure, procure fuel, or expand. The government that wants to Industrialise has no plan to bail them out.
Speaking at the launch of the National Industrial Policy 2025, businessman, Aliko Dangote, issued a blunt warning to Nigeria’s government: without stable electricity, the country’s industrial ambitions will stall.
He urged the Nigerian government to convene an emergency national retreat to resolve the country’s chronic electricity crisis. He further warned that unreliable power supply is the single biggest threat to industrial growth.
This propaganda governance won’t get us far. Countries thrive by leveraging their strengths, but we are failing. We have got vast arable land, yet we import most of our food. Government talks big on agri-finance, but it is just lip service. We produce crude oil, but used to imported refined products till Dangote stepped in. Oil revenue is lining private pockets instead of driving growth.
Feeding citizens, good governance, security of lives and property and steady democracy come before industrialisation. Propaganda won’t drive development.
