Federal government has unveiled plans to channel N800 billion in targeted credit into the agro-processing and renewable energy sectors as part of the newly launched National Industrial Policy 2025, aimed at accelerating industrial growth, job creation, and economic diversification.
Gatekeepers News reports that the funding framework, released by the Ministry of Trade, Industry, and Investment on Tuesday, outlines a strategy to commit between 3 and 5 percent of Nigeria’s annual gross domestic product (GDP) to industrial financing.
Under the plan, N500 billion will be directed to agro-processing, while N300 billion will support renewable energy projects, reflecting the government’s focus on food security, value addition, and sustainable energy development.
The policy document also reveals that the government is strengthening and recapitalising domestic development finance institutions (DFIs), in partnership with continental and international financial bodies, to provide long-term funding at single-digit interest rates. This move is intended to address the persistent financing challenges faced by manufacturers and industrial operators nationwide.
Key measures outlined include the recapitalisation of the Bank of Industry (BOI) to N3 trillion by 2026, alongside the expansion of sector-specific intervention funds from N1 trillion to N3 trillion, as captured in the federal government’s economic stabilisation plan. These actions are expected to significantly widen access to affordable credit and stimulate large-scale industrial investments.
In addition, the government introduced a five-year implementation roadmap covering 2025 to 2030, designed to ensure policy consistency, strengthen inter-agency coordination, expand public-private partnership (PPP) frameworks, upgrade infrastructure, and scale up financing support for micro, small, and medium enterprises (MSMEs). The roadmap also mandates the Central Bank of Nigeria to develop mechanisms that will encourage commercial banks to increase lending to priority industries.
To further reduce borrowing risks and encourage private sector participation, the government plans to roll out credit guarantee schemes and promote innovative financing tools, including equity investments, venture capital, impact funding, crowdfunding, and factoring. These instruments are expected to unlock new funding channels for entrepreneurs, startups, and established industrial firms.
Beyond domestic financing, the industrial policy also targets stronger export performance. The government aims to onboard 1,000 new Nigerian exporters into African Continental Free Trade Area markets by 2027, supported by improved trade negotiations, deeper regional integration, and stronger participation in global value chains.
“Negotiation and implementation of bilateral and multilateral trade agreements, bolster trade negotiation capabilities, and integrate Nigerian firms into global value chains, aiming to onboard 1,000 new exporters to AfCFTA markets by 2027,” the report reads.
Officials said the broader goal of the funding strategy is to enhance industrial productivity, expand market access, reduce import dependence, and improve Nigeria’s global competitiveness, while creating sustainable jobs and stimulating inclusive economic growth.
