Dike Onwuamaeze
A former Director General of the United Nations Industrial Development Organisation (UNIDO), Dr. Kandeh Kolleh Yumkalla, has referred to as on the federal authorities to supply a transparent power coverage that will make the implementation of the Nigeria Industrial Policy simpler.
Yumkalla made this name when he delivered “The 6th Adeola Odutola Lecture,” on the Manufacturers Association of Nigeria (MAN) 54th Annual General Meeting (AGM), which was titled “Leveraging National Industrial Policy to Position Nigeria as Africa’s Industrial Hub coverage have to be half of an efficient industrial coverage.
He stated: “Energy policy is industrial strategy. If we do not fix that, industry will die because no industrial strategy can succeed without reliable electricity.”
“You know the story. It (power) is killing your business. Manufacturers spent an estimated N1.3 trillion on self-generated energy in 2025, up from N781 billion in 2023, with power now accounting for as a lot as 35 to 40 % of manufacturing prices. Here, some folks even say 60 per cent of their working prices.
“Whereas energy makes up roughly between 5.0 and 15 per cent manufacturing costs in countries such as India, Vietnam, Indonesia, Turkey, Mexico and South Africa.”
He stated that industrial coverage shouldn’t be seen as a bit of paper however a doc that actually drive productive capability, funding, know-how, competitiveness, pushes worth addition and creates jobs.
He stated: “It is about practical and deliberate implementation of industrial policy. It is government deciding that yes, we will drive certain sectors. That is how the Asians have done it because the risks are many.”
Yumkalla stated that Nigeria has all of the important foundations wanted to change into Africa’s industrial powerhouse however emphasised that Nigeria’s industrial problem is the necessity to convert scale into productiveness, competitiveness, and exports.
He stated: “Ladies and gentlemen, for years, one of Nigeria’s biggest economic paradox has been that the country has a large market and abundant resources, yet imports dominate everyday consumption. I am aware of the government’s effort to change this narrative through the NIP.”
