Federal Government’s Strategic Actions Prevent Industrial Shutdowns – Minister

Nigeria’s Minister of State for Industry, John Enoh, has affirmed that decisive interventions by the federal government have effectively resolved several key issues that previously compelled industries to shut down or exit the country.

Speaking during the second anniversary celebration of President Bola Ahmed Tinubu’s administration, the minister highlighted how government initiatives have targeted critical obstacles that once hindered industrial operations in Nigeria.

According to Enoh, challenges related to electricity supply, infrastructure development, access to affordable short-term financing, bureaucratic inefficiencies, and the overall ease of doing business have been systematically addressed under the current administration. These targeted efforts, he noted, have sparked renewed confidence among investors and business owners in the industrial sector.

“These very challenges were the main drivers behind the exodus and closure of industries in the past. We have focused our efforts on thematic areas such as power supply, infrastructure, affordable financing, and eliminating red tape. These interventions are ongoing,” the minister explained.

He added that the Tinubu-led government has fostered an atmosphere of trust and predictability for industry stakeholders, significantly reducing the trend of factory closures and positioning the country for broader industrial expansion.

“The confidence this administration has restored in the system has halted the wave of industrial closures. We are witnessing renewed interest and commitment to growing local industries and creating sustainable environments for investment,” Enoh said.

Enoh further emphasized that President Tinubu recognizes the strategic role of the industrial sector in Nigeria’s economic transformation. Reflecting this priority, Tinubu appointed Enoh specifically to focus on industrial development rather than merging the portfolio with trade and investment, which had previously been the case.

Reassuring the public, the minister noted that since the administration assumed office, no significant reports of industrial closures have been recorded. Instead, industry owners have expressed increased confidence in the direction of the economy, supported by proactive government policies that safeguard business continuity.