The Nigerian Economic Summit Group (NESG) has identified industrialisation as the most viable path to unlocking Nigeria’s economic potential, warning that without a shift from consumption to production, the country will remain trapped in slow growth and import dependence.
In a statement ahead of the 31st Nigerian Economic Summit (NES #31) scheduled for 6-7 October 2025, in Abuja, the policy think tank said the country’s economic renaissance hinges on building a strong industrial base capable of creating jobs, boosting exports, and driving inclusive prosperity.
“Nigeria has struggled with deindustrialisation, overdependence on imports, and limited value addition in key sectors, NESG said in a statement issued by Ayanyinka Ayanlowo, head of Strategic Communications and Advocacy.