By Yinka Kolawole
Lagos — President Bola Tinubu has declared that Nigeria will no longer be content with exporting raw materials and importing finished products, saying the country is determined to become Africa’s industrial workshop.
Tinubu, represented by the Minister of State for Industry, Sen. John Enoh, spoke at the sixth Adeola Odutola Lecture and Presidential Luncheon organised by the Manufacturers Association of Nigeria (MAN) in Lagos on Tuesday.
The event had as its theme, “Leveraging National Industrial Policy to Position Nigeria as Africa’s Industrial Hub.”
The President said Nigeria’s industrial policy was designed to expand manufacturing, deepen local value addition and enable the country to capture a larger share of the African market.
“Nigeria will not be Africa’s warehouse, storing what others make. Nigeria will be Africa’s workshop, making what Africa needs, and sending it with pride across the continent and beyond,” he said.
Tinubu said the decline in manufacturing’s contribution to the economy — from more than 20 per cent of GDP in the early 1990s to below 10 per cent by 2024 — must be reversed.
He noted that the manufacturing sector grew by 3.29 per cent in the first quarter of 2026 and 3.24 per cent in the second quarter, but acknowledged that manufacturers still faced significant financing and operating challenges.
According to him, the Nigerian Industrial Policy, unveiled in February, targets raising manufacturing’s contribution to GDP to between 20 and 25 per cent by 2030, supported by industrial financing of up to five per cent of GDP.
He said the government would prioritise reliable energy, affordable long-term capital, fair markets, improved security along industrial corridors and stronger accountability in policy implementation.
Tinubu added that the Industrial Revolution Work Group would hold quarterly delivery dialogues with manufacturers to monitor implementation and address emerging challenges.
The President also identified the African Continental Free Trade Area as a major opportunity for Nigerian manufacturers, citing its market of about 1.4 billion people and combined GDP of approximately $3.4 trillion.
He said Nigeria must leverage its large population, entrepreneurial capacity, natural resources and strategic location to supply goods to markets across the continent.
“The government will clear the road. You must drive the trucks,” Tinubu told manufacturers, urging them to invest in production capacity, deepen backward integration, meet export standards and train young Nigerians.
He also urged manufacturers to regard Africa as their home market, saying the country must move away from the practice of exporting cocoa, crude oil and cotton while importing chocolate, fuel and clothing.
“We are writing a new chapter, and we are writing it in factories,” the President said.
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