**Nigeria's Industrial Renaissance: Federal Government Commits 5% of GDP to Revive Manufacturing Sector** In a bold bid to transform the nation's economy, the Federal Government has pledged to allocate up to 5% of Nigeria's Gross Domestic Product (GDP) annually to finance industrial development. This ambitious move aims to reposition the economy for large-scale production, boost export competitiveness, and create jobs for millions of Nigerians. The Nigeria Industrial Plan (NIP), launched by the Federal Ministry of Industry, Trade and Investment, is a comprehensive framework that consolidates fiscal, monetary, export, and industrial measures into a single national policy. The plan seeks to accelerate Nigeria's industrial transformation by leveraging the country's natural and human capital towards inclusive and sustainable manufacturing growth. A key component of the NIP is the aggressive financing target. The government plans to recapitalize the Bank of Industry to N3 trillion by 2026 and expand sector-specific intervention funds to increase the flow of long-term capital to priority sectors. This move is expected to stimulate growth in areas such as metals and solid minerals, oil and gas, construction, and manufacturing. The policy sets ambitious targets, with manufacturing projected to contribute 15% to GDP by 2030 and 25% by 2035. Similarly, mining is expected to rise to 8% by 2030 and 10% by 2035. The government has identified four sectors for immediate focus and has introduced a consolidated incentive architecture to support investment in these areas. The new framework includes a revised tax system, where tax relief is tied to measurable outcomes such as investment levels, production capacity, and employment generation. The Interest Drawback Scheme for Micro, Small and Medium Enterprises (MSMEs) also offers partial refunds to eligible firms after meeting agreed performance milestones, such as job creation or export growth. Vice President Kashim Shettima emphasized the need for coordination across multiple sectors to achieve successful industrialization. "It requires deliberate coherence across energy, trade, infrastructure, finance, skills, and innovation," he said. "Above all, it calls for a purposeful partnership between government and the private sector, working in alignment to deliver sustainable, inclusive growth." The NIP also places emphasis on technology and sustainability, with a focus on automation, robotics, and clean energy. With this ambitious plan, Nigeria is poised to revive its manufacturing sector and drive economic growth.