2025: FG Outlines Strategies for Industrialisation, Plans MSMEs Census
The Federal Ministry of Industry, Trade, and Investment (FMITI) has announced plans to conduct a nationwide census in 2025. This initiative aims to create a data-driven roadmap for empowering Micro, Small, and Medium Enterprises (MSMEs), as part of the government’s industrial transformation and economic diversification agenda.
Key Objectives of the 2025 Census
The ministry’s recently published outlook document, titled “Accelerating Diversification to Rebuild Prosperity by Leveraging Industry, Trade & Investment,” highlights its strategic goals for 2025. Signed by Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment, and Senator John Enoh, Minister of State, the document positions the MSMEs census as an essential component of the government’s broader industrialisation framework.
According to the document, the census will serve as the foundation for:
- Empowering MSMEs through data-driven policies.
- Establishing a high-level task force to drive industrial reforms.
- Reengineering the Nigeria Industrial Revolution Plan (NIRP) to develop a modern, sustainable industrialisation blueprint.
Focus Areas for 2025
Dr. Oduwole described 2025 as a pivotal year for Nigeria’s economic diversification efforts. The ministry’s strategy revolves around three core areas:
- Investment Mobilisation: Attracting and retaining foreign and local investments.
- Trade Revenue Growth: Boosting exports and foreign exchange earnings.
- Economic Diversification: Advancing sectors such as manufacturing, creative arts, digitisation, and innovation.
Oduwole emphasised the importance of positioning Nigeria’s private sector to compete in both domestic and global markets. She also highlighted FMITI’s achievements in 2024, stating that the ministry had successfully implemented reforms to improve its performance.
Priorities for Industrial Growth
The 2025 agenda outlines several key priorities:
- Automotive Sector Development: Accelerating local manufacturing and building world-class supply chains.
- Agricultural Value Addition: Strengthening Nigeria’s position in global agro-industrial production.
- Revitalising Cotton, Textile, and Garments (CTG): Boosting domestic production, driving exports, and creating jobs.
- Industrial Self-Sufficiency: Investing in pharmaceuticals, medical devices, and petrochemicals.
- MSMEs Census: Conducting a national survey to inform evidence-based policies and reforms.
The ministry also plans to establish a task force dedicated to implementing these reforms and updating the NIRP to align with current economic realities.
Collaboration and Monitoring
Senator John Enoh underscored the importance of revitalising existing industries to enhance their competitiveness. He also stressed that achieving the outlined goals would require strong partnerships with key stakeholders across various sectors. The ministry intends to foster collaboration, implement rigorous monitoring, and evaluate industrial projects to ensure success.
By focusing on these strategic initiatives, FMITI aims to drive industrial transformation, promote trade, and create jobs for Nigerians, building a resilient and diversified economy.
