Gov. Sanwo-Olu Backs National Industrial Policy, Says Nigeria Must End Import Dependency

Lagos State Governor, Babajide Olusola Sanwo-Olu, has described the Nigeria Industrial Policy (NIP) as a decisive move toward repositioning the country as a globally competitive production-driven economy.

The Governor made the remarks during the public presentation of the policy by Vice President Kashim Shettima at the Banquet Hall of the State House, Abuja. Represented by the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose, Sanwo-Olu stressed that national prosperity must be measured by job creation, skill development, and expanded opportunities.

He noted that Nigeria’s long-standing practice of exporting raw materials and importing finished goods must come to an end. According to him, the administration of President Bola Ahmed Tinubu has laid a solid foundation through macroeconomic reforms, clearer regulations, investor engagement, and infrastructure development.

Sanwo-Olu emphasised that the new policy integrates industrialisation with broader economic initiatives, including sector-specific financing, development bank partnerships, and alignment with the African Continental Free Trade Area (AfCFTA). He said the strategy recognises the need for inclusive industrial growth across all local government areas.

The visit marks another step in Lagos State’s ongoing international engagement drive, reinforcing its ambition to position the state as a globally competitive megacity under the THEMES Plus Agenda.