Nigeria’s Minister of State for Industry, Senator John Owan, has warned that demography alone does not guarantee economic growth.
Speaking at the Redeemed Christian Church of God Lagos Province 35 Economic Summit on Saturday, Senator Owan said that Nigeria should urgently reduce its dependence on imports and deliberately channel its large population into productive industrial activity,
He stressed that the success of the Federal Government’s Nigeria-First policy will depend largely on policy predictability, coordinated execution, and the strategic use of public procurement to stimulate local manufacturing.
“Nigeria does not need to import what we can. We can clothe ourselves. Yesterday, before leaving Abuja, I was in a meeting with the DG of the BPP. What was that meeting about? Mr President announced a Nigeria-First policy. Now, the challenge is to get it to work. What’s the best way to implement and to execute such a policy? The Ministry of Industry and Development is key.
“So, an engagement has begun between the Ministry, between our office and the Bureau of Public Procurement, which is concerned with about five or six sectors, including textile and apparel, including the automotive sector, including medical equipment, including furniture and all of that. Because what that Bureau wants to do is to see how to get this implemented by the kind of public procurement framework that is put in place. And I think that the opportunities are coming,” he said.
According to the minister, public procurement represents a powerful but underutilised tool for industrial development, noting that predictable government demand can unlock private investment and accelerate domestic value-chain development.
Owan cited the examples of other countries: “Bangladesh became a global market, organic leader, not because of that perfect infrastructure, but because it built predictability, level competitiveness, and focused value chains. I mean, Vietnam followed a similar model and now exports electronics, garments, and machinery to the world. I often give the example that a huge population as a country will only make sense if we can become a bit more inclusive.”