The federal government says it will allocate 800 billion naira in credit to the agro-processing and renewable energy sectors under the National Industrial Policy 2025. The plan was announced on Tuesday in a policy report launched by the Ministry of Trade, Industry and Investment.
According to the report, 500 billion naira will be earmarked for agro-processing and 300 billion naira for renewable energy. The government also intends to set aside between three and five percent of gross domestic product each year for industrial development financing.
The policy includes the recapitalisation of the Bank of Industry to three trillion naira by 2026 and an increase in sector-specific intervention funds from one trillion to three trillion naira under the stabilisation plan. It also outlines a five-year implementation roadmap from 2025 to 2030, focusing on policy coordination, public-private partnerships, infrastructure upgrades and expanded finance for small businesses.
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The government says it will provide credit guarantees, strengthen development finance institutions in collaboration with international partners, and support innovative funding models. It also aims to onboard one thousand new exporters to the African Continental Free Trade Area markets by 2027 through trade agreements and integration into global value chains.
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