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Nigeria’s federal government has unveiled plans to channel N800 billion into agro-processing and renewable energy as part of its National Industrial Policy 2025.
The initiative, announced by the Ministry of Trade, Industry and Investment, signals a renewed push to strengthen domestic production and accelerate industrial growth.
According to the policy framework, the government intends to dedicate between three and five percent of the country’s gross domestic product annually to industrial financing. Within this structure, N500 billion is earmarked for agro-processing, while N300 billion will support renewable energy development. Authorities say the targeted funding will stimulate productivity, create jobs, and reduce reliance on imports.
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A major pillar of the strategy involves strengthening development finance institutions to improve access to long-term capital. The Bank of Industry is expected to be recapitalised to N3 trillion by 2026, while sector-specific intervention funds will expand significantly under the government’s economic stabilisation agenda. Officials say the goal is to make financing available at single-digit interest rates for priority industries.
The plan also outlines a five-year implementation roadmap running from 2025 to 2030. Key priorities include improved policy coordination, infrastructure upgrades, expanded financing for micro, small and medium enterprises, and the rollout of public-private partnership frameworks. The Central Bank is expected to design mechanisms that encourage commercial banks to increase lending to critical sectors.
To further reduce financial barriers, the government plans to introduce credit guarantees and promote innovative funding options such as venture capital, equity investments, crowdfunding, and factoring. Additionally, Nigeria aims to integrate more local firms into global value chains by onboarding 1,000 new exporters into African Continental Free Trade Area markets by 2027.
