By Etop Ekanem
As Nigeria’s new industrial policy enters its critical implementation phase, private sector leaders have emphasized that data-driven accountability and sustained execution will be the defining factors in its success.

The call was made during a high-level panel at the recently concluded NECA Employers’ Summit, which brought together policymakers, business leaders, and industry stakeholders to assess progress on economic reforms.
The panel, titled “Nigeria’s Industrial Policy: Implications for Industrial Development, Trade and Investment Promotion,” was moderated by Ms. Nancy Illoh-Nnaji, Anchor and Producer of MoneyLine on AIT.

Other members of the panel included Mr. Segun Ajayi-Kadir, Director-General of the Manufacturers Association of Nigeria (MAN); Mr. Ade Adefeko, Vice President, Corporate and Government Relations, OLAM Agri; Mr. Sadiq Kassim, Director, Corporate Affairs, TGI Group; and Ms. Catherine John Baco, Director of Industry and Investment, Ministry of Trade, Industry and Investment, Nasarawa State.

Setting the context, Mr. Segun Ajayi described the industrial policy as a landmark achievement, saying: “This is the most comprehensive industrial policy we’ve ever had since independence. It clearly outlines the areas we need to focus upon to transform our industrial landscape,” confirming that a public scorecard review is expected in the first week of July.

Mr. Ade Adefeko stressed the need for Nigeria to move beyond raw commodity exports, noting:”We’ve been moving arithmetically in terms of production and value addition rather than geometrically. What doesn’t get measured doesn’t get done.”

Citing concrete data, Mr. Sadiq Kassim revealed that within the first quarter of 2026 alone, Nigeria exported ₦10 billion worth of shea butter and ₦53 billion worth of soya meal, clear indicators that the policy’s focus on local processing is gaining traction.

He said: “Members involved in shea processing now have a definite government pronouncement. They have invested, they are moving forward. The policy is giving us the confidence to invest backwards rather than importing finished products.”

Reaffirming his organisation’s strategic commitment to backward integration and local manufacturing, Kassim called for a public-facing implementation dashboard with binding timelines, adding: “What doesn’t get measured doesn’t get done. We need to track progress and hold government accountabl.

“The policy is barely three months old, but we already see early wins. If we maintain this momentum, with consistent data, inter-agency coordination, and private sector buy-in, Nigeria can finally break the commodity trap and become a true industrial powerhouse.”

The panellists unanimously agreed that while Nigeria’s industrial policy provides a solid foundation, success depends on execution, inter-ministerial cooperation, and consistent measurement. They called for structured quarterly engagements between the private sector and government to ensure the policy delivers tangible results.